66,800 Shares in Vertiv Holdings Co (NYSE:VRT) Acquired by Payden & Rygel

Payden & Rygel purchased a new position in Vertiv Holdings Co (NYSE:VRT - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 66,800 shares of the company's stock, valued at approximately $6,646,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the 3rd quarter worth $29,000. Anchor Investment Management LLC acquired a new position in shares of Vertiv during the 2nd quarter worth about $26,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv in the 3rd quarter valued at about $30,000. Mather Group LLC. raised its position 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 acquiring an additional 200 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Vertiv during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Vertiv Stock Performance

Shares of Vertiv stock traded up $7.65 during trading hours on Thursday, hitting $145.19. 4,860,569 shares of the company were exchanged, compared to its average volume of 8,195,511. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The business has a 50-day moving average of $108.75 and a 200-day moving average of $94.57. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $145.67. The stock has a market capitalization of $54.50 billion, a price-to-earnings ratio of 95.45, a P/E/G ratio of 1.53 and a beta of 1.58.

Vertiv (NYSE:VRT - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business's revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. As a group, analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.10%. This is a boost from Vertiv's previous quarterly dividend of $0.03. Vertiv's dividend payout ratio is currently 6.67%.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRT. Jefferies Financial Group began coverage on shares of Vertiv in a report on Monday, October 7th. They set a "buy" rating and a $125.00 price objective on the stock. The Goldman Sachs Group lifted their price target on shares of Vertiv from $126.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday. UBS Group began coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a "buy" rating and a $155.00 price objective for the company. Bank of America lifted their target price on Vertiv from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, TD Cowen upped their target price on Vertiv from $115.00 to $141.00 and gave the company a "buy" rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $138.50.

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.