Bank of New York Mellon Corp Purchases 33,012 Shares of Vertiv Holdings Co. $VRT

Bank of New York Mellon Corp lifted its position in shares of Vertiv Holdings Co. (NYSE:VRT) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,143,067 shares of the company’s stock after purchasing an additional 33,012 shares during the quarter. Bank of New York Mellon Corp owned about 0.56% of Vertiv worth $323,303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in VRT. Financial Management Professionals Inc. grew its position in shares of Vertiv by 1,560.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock worth $25,000 after buying an additional 156 shares during the period. Promus Capital LLC purchased a new position in shares of Vertiv during the second quarter valued at approximately $26,000. Pacer Advisors Inc. boosted its position in shares of Vertiv by 67.6% in the 3rd quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Avion Wealth grew its stake in shares of Vertiv by 99.1% in the 2nd quarter. Avion Wealth now owns 213 shares of the company’s stock worth $27,000 after buying an additional 106 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Vertiv by 54.0% during the 3rd quarter. True Wealth Design LLC now owns 194 shares of the company’s stock valued at $29,000 after buying an additional 68 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

VRT has been the topic of several analyst reports. Oppenheimer boosted their target price on Vertiv from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. TD Cowen reiterated a “buy” rating and issued a $211.00 price target on shares of Vertiv in a research note on Monday, December 1st. Deutsche Bank Aktiengesellschaft set a $216.00 price objective on shares of Vertiv and gave the company a “buy” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group lifted their target price on shares of Vertiv from $182.00 to $204.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, UBS Group increased their price target on shares of Vertiv from $173.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.89.

Insider Transactions at Vertiv

In other Vertiv news, EVP Stephen Liang sold 5,501 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $170.48, for a total transaction of $937,810.48. Following the completion of the sale, the executive vice president directly owned 4,050 shares in the company, valued at $690,444. The trade was a 57.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.63% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $195.17 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average price of $172.67 and a 200-day moving average price of $158.47. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $202.45. The firm has a market capitalization of $74.62 billion, a PE ratio of 73.65, a P/E/G ratio of 1.19 and a beta of 2.06.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were issued a $0.0625 dividend. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, November 25th. Vertiv’s dividend payout ratio is currently 9.43%.

Vertiv Company Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.