Meeder Asset Management Inc. raised its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 1,441.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,354 shares of the company's stock after acquiring an additional 39,607 shares during the period. Meeder Asset Management Inc.'s holdings in Vertiv were worth $4,214,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of VRT. Anchor Investment Management LLC acquired a new stake in Vertiv during the second quarter worth about $26,000. Mather Group LLC. increased its holdings in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company's stock worth $29,000 after buying an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at approximately $29,000. Global Trust Asset Management LLC acquired a new position in Vertiv in the third quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new position in Vertiv in the second quarter worth approximately $34,000. 89.92% of the stock is owned by hedge funds and other institutional investors.
Vertiv Stock Up 14.6 %
Shares of NYSE VRT traded up $17.92 during mid-day trading on Tuesday, hitting $140.94. The company had a trading volume of 14,833,821 shares, compared to its average volume of 8,199,526. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $141.12. The company has a market capitalization of $52.90 billion, a PE ratio of 93.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The business's 50-day simple moving average is $107.65 and its 200 day simple moving average is $94.27.
Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the company earned $0.52 EPS. Vertiv's revenue for the quarter was up 19.0% compared to the same quarter last year. On average, analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.
Vertiv Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This is a boost from Vertiv's previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. Vertiv's payout ratio is 6.67%.
Insider Buying and Selling
In other news, insider Karsten Winther sold 44,924 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.01% of the company's stock.
Analyst Upgrades and Downgrades
VRT has been the topic of several recent analyst reports. Jefferies Financial Group started coverage on Vertiv in a research note on Monday, October 7th. They issued a "buy" rating and a $125.00 price target on the stock. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Citigroup lifted their price target on shares of Vertiv from $134.00 to $141.00 and gave the company a "buy" rating in a research report on Tuesday. The Goldman Sachs Group upped their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Evercore ISI lifted their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $138.50.
Read Our Latest Stock Analysis on VRT
Vertiv Profile
(
Free Report)
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.
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