Victory Capital Management Inc. Boosts Stock Position in Vertiv Holdings Co (NYSE:VRT)

Victory Capital Management Inc. grew its stake in Vertiv Holdings Co (NYSE:VRT) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 632,877 shares of the company’s stock after purchasing an additional 16,462 shares during the period. Victory Capital Management Inc.’s holdings in Vertiv were worth $30,397,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Nordea Investment Management AB acquired a new position in Vertiv in the 4th quarter valued at $1,040,000. Xponance Inc. lifted its position in Vertiv by 2.9% in the fourth quarter. Xponance Inc. now owns 14,984 shares of the company’s stock valued at $720,000 after purchasing an additional 426 shares during the period. WT Asset Management Ltd purchased a new stake in Vertiv in the 4th quarter valued at approximately $24,486,000. CenterBook Partners LP increased its position in Vertiv by 82.0% during the 3rd quarter. CenterBook Partners LP now owns 174,938 shares of the company’s stock worth $6,508,000 after purchasing an additional 78,793 shares during the period. Finally, Quadrature Capital Ltd raised its stake in shares of Vertiv by 791.6% during the 3rd quarter. Quadrature Capital Ltd now owns 92,628 shares of the company’s stock worth $3,445,000 after buying an additional 82,239 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of analyst reports. Citigroup lifted their price target on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Evercore ISI boosted their price target on Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Bank of America increased their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Oppenheimer raised their price target on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.11.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction that occurred on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total transaction of $63,052.52. Following the sale, the insider now owns 19,452 shares of the company’s stock, valued at $1,836,074.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,409,664 shares of company stock valued at $310,846,212. 5.62% of the stock is currently owned by company insiders.

Vertiv Stock Performance

Vertiv stock opened at $94.91 on Wednesday. The stock has a fifty day moving average price of $80.75 and a 200 day moving average price of $60.37. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09. Vertiv Holdings Co has a 52 week low of $14.68 and a 52 week high of $97.49. The firm has a market capitalization of $35.53 billion, a P/E ratio of 91.26, a PEG ratio of 1.41 and a beta of 1.55.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s payout ratio is 9.62%.

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.