Victory Capital Management Inc. Buys 187,235 Shares of Vertiv Holdings Co. (NYSE:VRT)

Victory Capital Management Inc. raised its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 29.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 830,211 shares of the company's stock after acquiring an additional 187,235 shares during the period. Victory Capital Management Inc. owned approximately 0.22% of Vertiv worth $59,941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv in the 4th quarter valued at $597,379,000. Norges Bank acquired a new position in shares of Vertiv in the 4th quarter valued at $391,777,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Vertiv by 136.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock valued at $379,101,000 after buying an additional 1,928,275 shares during the period. Vanguard Group Inc. grew its holdings in shares of Vertiv by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after buying an additional 1,244,780 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Vertiv by 25.3% in the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after buying an additional 990,361 shares during the period. Institutional investors own 89.92% of the company's stock.

Insider Activity at Vertiv

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction that occurred 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 owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the sale, the insider owned 18,847 shares in the company, valued at $1,777,837.51. This represents a 22.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.63% of the company's stock.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research analyst reports. UBS Group reaffirmed a "buy" rating on shares of Vertiv in a research note on Friday, July 11th. Wolfe Research reaffirmed an "outperform" rating and issued a $155.00 target price on shares of Vertiv in a research note on Thursday, July 10th. Melius upgraded shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Tuesday, July 8th. Roth Mkm initiated coverage on shares of Vertiv in a research note on Tuesday, April 8th. They set a "buy" rating and a $75.00 price objective for the company. Finally, Evercore ISI restated an "outperform" rating on shares of Vertiv in a research note on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $136.76.

Vertiv Stock Performance

Vertiv stock traded down $1.94 during trading hours on Friday, hitting $129.18. The company had a trading volume of 5,779,897 shares, compared to its average volume of 8,560,204. The firm has a market cap of $49.23 billion, a PE ratio of 75.10, a PEG ratio of 1.28 and a beta of 1.75. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The firm has a 50-day moving average of $116.14 and a 200 day moving average of $104.07.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. 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 business posted $0.43 EPS. The business's revenue was up 24.2% compared to the same quarter last year. On average, sell-side analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This is a positive change from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 0.14%. Vertiv's dividend payout ratio (DPR) 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.