Daiwa Securities Group Inc. Boosts Stock Position in Vertiv Holdings Co (NYSE:VRT)

Daiwa Securities Group Inc. grew its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 85.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,456 shares of the company’s stock after purchasing an additional 40,356 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Vertiv were worth $8,701,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Clearbridge Investments LLC raised its position in Vertiv by 15.4% in the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after acquiring an additional 340,639 shares during the period. Whittier Trust Co. raised its holdings in shares of Vertiv by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after purchasing an additional 8,579 shares during the period. Janney Capital Management LLC purchased a new position in Vertiv in the third quarter valued at approximately $8,403,000. Assenagon Asset Management S.A. grew its holdings in Vertiv by 190.7% during the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after purchasing an additional 36,684 shares during the period. Finally, Entropy Technologies LP increased its position 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 buying an additional 9,479 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vertiv

In other Vertiv news, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, the director now owns 3,425 shares in the company, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the transaction, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,185 shares of company stock valued at $10,074,936. 5.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on VRT shares. Jefferies Financial Group initiated coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. The Goldman Sachs Group lifted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Bank of America increased their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group initiated coverage on shares of Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target on the stock. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Trading Down 5.8 %

VRT stock opened at $132.03 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $145.67. The company’s 50 day moving average price is $111.84 and its two-hundred day moving average price is $95.42. The company has a market capitalization of $49.56 billion, a PE ratio of 88.02, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s revenue was up 19.0% on a year-over-year basis. As a group, analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm 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 $0.0375 dividend. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is currently 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.