Vertiv Holdings Co. (NYSE:VRT) Shares Acquired by TT International Asset Management LTD

TT International Asset Management LTD increased its stake in Vertiv Holdings Co. (NYSE:VRT) by 55.2% during the first quarter, HoldingsChannel.com reports. The fund owned 54,045 shares of the company’s stock after buying an additional 19,212 shares during the period. Vertiv makes up approximately 0.6% of TT International Asset Management LTD’s holdings, making the stock its 24th biggest position. TT International Asset Management LTD’s holdings in Vertiv were worth $3,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Principal Securities Inc. grew its holdings in shares of Vertiv by 71.1% during the fourth quarter. Principal Securities Inc. now owns 5,128 shares of the company’s stock valued at $583,000 after buying an additional 2,131 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Vertiv by 13.5% during the fourth quarter. CIBC Asset Management Inc now owns 15,279 shares of the company’s stock valued at $1,736,000 after buying an additional 1,818 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Vertiv by 51.2% during the fourth quarter. Truist Financial Corp now owns 66,578 shares of the company’s stock valued at $7,564,000 after buying an additional 22,544 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Vertiv by 5.9% during the fourth quarter. D.A. Davidson & CO. now owns 4,784 shares of the company’s stock valued at $544,000 after buying an additional 265 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Vertiv by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 17,820 shares of the company’s stock valued at $2,025,000 after buying an additional 2,193 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider now directly owns 18,847 shares in the company, valued at $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president now owns 9,551 shares of the company’s stock, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VRT shares. JPMorgan Chase & Co. lifted their price target on Vertiv from $100.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Cowen reissued a “buy” rating on shares of Vertiv in a research report on Thursday, April 24th. KGI Securities started coverage on Vertiv in a research report on Thursday, April 24th. They set a “hold” rating for the company. Wall Street Zen raised Vertiv from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Citigroup lifted their price objective on Vertiv from $98.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, June 16th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.69.

Vertiv Stock Down 0.3%

Shares of VRT stock opened at $118.69 on Friday. The stock’s 50 day simple moving average is $99.40 and its 200 day simple moving average is $103.67. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The company has a market capitalization of $45.23 billion, a price-to-earnings ratio of 69.01, a PEG ratio of 1.20 and a beta of 1.73.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business earned $0.43 EPS. The firm’s revenue was up 24.2% compared to the same quarter last year. As a group, research analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 17th will be paid a $0.0375 dividend. This represents a dividend yield of 0.14%. This is an increase from Vertiv’s previous dividend of $0.01. The ex-dividend date is Monday, June 16th. Vertiv’s dividend payout ratio (DPR) is presently 8.72%.

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.