Sumitomo Life Insurance Co. Sells 24,746 Shares of Vertiv Holdings Co. (NYSE:VRT)

Sumitomo Life Insurance Co. decreased its holdings in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 32.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,399 shares of the company's stock after selling 24,746 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in Vertiv were worth $3,711,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in VRT. North Star Investment Management Corp. boosted its stake in shares of Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock valued at $30,000 after purchasing an additional 412 shares during the last quarter. Colonial Trust Co SC raised its holdings in Vertiv by 211.9% during the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after buying an additional 214 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Vertiv in the fourth quarter valued at approximately $37,000. TD Private Client Wealth LLC raised its holdings in shares of Vertiv by 37.5% in the first quarter. TD Private Client Wealth LLC now owns 510 shares of the company's stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Vertiv in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VRT shares. Evercore ISI reissued an "outperform" rating on shares of Vertiv in a research note on Thursday. Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 target price for the company in a research note on Tuesday, July 8th. Citigroup lifted their price objective on shares of Vertiv from $130.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday. Barclays lifted their price objective on shares of Vertiv from $90.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $155.00 price objective on shares of Vertiv in a research report on Thursday. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $135.35.

Vertiv Trading Up 1.6%

Shares of Vertiv stock traded up $1.97 on Tuesday, hitting $126.69. The stock had a trading volume of 3,156,413 shares, compared to its average volume of 9,577,194. The stock has a 50 day moving average of $113.46 and a 200 day moving average of $103.61. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. The firm has a market capitalization of $48.28 billion, a P/E ratio of 73.70, a PEG ratio of 1.23 and a beta of 1.75.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Sell-side analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a $0.0375 dividend. This is a boost from Vertiv's previous dividend of $0.01. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. Vertiv's dividend payout ratio (DPR) is currently 8.72%.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the sale, the insider directly owned 18,847 shares of the company's stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the sale, the executive vice president directly owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by company insiders.

Vertiv Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.