iA Global Asset Management Inc. Acquires 6,784 Shares of Vertiv Holdings Co (NYSE:VRT)

iA Global Asset Management Inc. increased its position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 113.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,763 shares of the company's stock after purchasing an additional 6,784 shares during the quarter. iA Global Asset Management Inc.'s holdings in Vertiv were worth $1,270,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC boosted its stake in shares of Vertiv by 25.1% in the 3rd quarter. ORG Partners LLC now owns 458 shares of the company's stock worth $46,000 after buying an additional 92 shares during the last quarter. Allworth Financial LP boosted its position in Vertiv by 18.6% in the third quarter. Allworth Financial LP now owns 638 shares of the company's stock worth $63,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. grew its stake in Vertiv by 0.9% in the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company's stock valued at $1,305,000 after purchasing an additional 112 shares during the period. Nvwm LLC increased its position in shares of Vertiv by 1.3% during the 3rd quarter. Nvwm LLC now owns 10,035 shares of the company's stock valued at $998,000 after purchasing an additional 124 shares during the last quarter. Finally, Callan Family Office LLC raised its stake in shares of Vertiv by 0.9% during the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company's stock worth $1,491,000 after purchasing an additional 137 shares during the period. 89.92% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares of the company's stock, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jan Van Dokkum sold 38,647 shares of Vertiv stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the sale, the director now directly owns 25,000 shares of the company's stock, valued at $3,409,750. This represents a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,527 shares of company stock worth $23,105,682 in the last three months. Corporate insiders own 5.01% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on VRT. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a "buy" rating and a $155.00 price target for the company. Mizuho increased their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on shares of Vertiv from $124.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They set a "buy" rating and a $125.00 price objective for the company. Finally, Citigroup raised their target price on Vertiv from $141.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv presently has a consensus rating of "Buy" and an average price target of $139.90.

Vertiv Stock Performance

Shares of NYSE VRT traded down $4.43 during mid-day trading on Tuesday, hitting $121.74. The company had a trading volume of 6,678,574 shares, compared to its average volume of 8,154,214. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 1 year low of $44.31 and a 1 year high of $145.67. The company has a market capitalization of $45.69 billion, a price-to-earnings ratio of 83.43, a P/E/G ratio of 1.38 and a beta of 1.61. The stock's 50-day moving average price is $118.63 and its 200-day moving average price is $97.58.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company's revenue was up 19.0% on a year-over-year basis. On average, sell-side analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.12%. This is an increase from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv's dividend payout ratio (DPR) is presently 6.67%.

Vertiv Company 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.