Victory Capital Management Inc. Buys 50,763 Shares of Vertiv Holdings Co (NYSE:VRT)

Victory Capital Management Inc. grew its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 14.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411,511 shares of the company's stock after purchasing an additional 50,763 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of Vertiv worth $40,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC boosted its holdings in shares of Vertiv by 12.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 7,821 shares of the company's stock worth $778,000 after buying an additional 893 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Vertiv by 113.1% during the 3rd quarter. Rakuten Securities Inc. now owns 19,109 shares of the company's stock valued at $1,901,000 after acquiring an additional 10,141 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Vertiv by 13.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 849,809 shares of the company's stock worth $84,547,000 after acquiring an additional 102,042 shares in the last quarter. WealthPlan Investment Management LLC acquired a new stake in Vertiv in the third quarter worth $645,000. Finally, Entropy Technologies LP grew its holdings in Vertiv by 42.4% in the third quarter. Entropy Technologies LP now owns 31,839 shares of the company's stock worth $3,168,000 after purchasing an additional 9,479 shares during the period. Institutional investors own 89.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VRT shares. Bank of America increased their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They issued a "buy" rating and a $125.00 price objective for the company. Citigroup upped their target price on Vertiv from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. TD Cowen lifted their price target on shares of Vertiv from $93.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, Oppenheimer upped their price objective on shares of Vertiv from $115.00 to $121.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $125.40.

Vertiv Stock Down 0.1 %

Shares of NYSE VRT traded down $0.16 during trading on Friday, hitting $120.87. The stock had a trading volume of 6,154,995 shares, compared to its average volume of 8,172,390. The firm has a fifty day moving average of $105.37 and a two-hundred day moving average of $93.67. The company has a market capitalization of $45.37 billion, a PE ratio of 80.57, a PEG ratio of 1.35 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. Vertiv Holdings Co has a 12 month low of $41.01 and a 12 month high of $130.30.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm posted $0.52 EPS. The firm's quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities research analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. Vertiv's dividend payout ratio (DPR) is currently 6.67%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.01% of the company's stock.

About Vertiv

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.