Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 19.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,338 shares of the company's stock after buying an additional 17,283 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Vertiv were worth $7,822,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VRT. Prestige Wealth Management Group LLC lifted its position in Vertiv by 2.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock valued at $420,000 after acquiring an additional 85 shares during the last quarter. Horizon Investment Services LLC increased its position in shares of Vertiv by 4.1% during the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock worth $274,000 after purchasing an additional 95 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its holdings in shares of Vertiv by 3.1% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after purchasing an additional 97 shares during the last quarter. Utah Retirement Systems boosted its position in shares of Vertiv by 0.3% in the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock valued at $4,465,000 after purchasing an additional 100 shares during the period. Finally, Wahed Invest LLC grew its stake in Vertiv by 1.2% during the 4th quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock worth $1,000,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Insider Activity

In related news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction on Friday, June 6th. The stock was sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the transaction, the executive vice president directly owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider owned 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on VRT. Morgan Stanley reduced their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Cowen reiterated a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. The Goldman Sachs Group increased their price target on shares of Vertiv from $106.00 to $122.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Finally, KGI Securities initiated coverage on shares of Vertiv in a report on Thursday, April 24th. They issued a "hold" rating for the company. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Vertiv presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.69.

Vertiv Stock Performance

Shares of VRT stock traded up $3.59 during trading hours on Friday, reaching $127.92. 4,003,595 shares of the company's stock were exchanged, compared to its average volume of 8,540,647. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. The company's 50 day moving average is $108.43 and its two-hundred day moving average is $103.44. The company has a market cap of $48.75 billion, a P/E ratio of 74.37, a price-to-earnings-growth ratio of 1.24 and a beta of 1.75. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84.

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

Vertiv Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a dividend of $0.0375 per share. The ex-dividend date was Monday, June 16th. This represents a yield of 0.14%. This is an increase from Vertiv's previous dividend of $0.01. Vertiv's payout ratio is currently 8.72%.

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.