Mirae Asset Global Investments Co. Ltd. Acquires 41,598 Shares of Vertiv Holdings Co. $VRT
by Teresa Graham · The Cerbat GemMirae Asset Global Investments Co. Ltd. increased its holdings in Vertiv Holdings Co. (NYSE:VRT – Free Report) by 29.7% in the third quarter, Holdings Channel reports. The institutional investor owned 181,457 shares of the company’s stock after buying an additional 41,598 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vertiv were worth $27,375,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Vertiv by 1.9% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,020 shares of the company’s stock valued at $456,000 after acquiring an additional 55 shares in the last quarter. JBR Co Financial Management Inc grew its holdings in shares of Vertiv by 0.8% during the 3rd quarter. JBR Co Financial Management Inc now owns 7,825 shares of the company’s stock worth $1,180,000 after purchasing an additional 65 shares in the last quarter. Plancorp LLC increased its position in shares of Vertiv by 1.3% in the third quarter. Plancorp LLC now owns 5,317 shares of the company’s stock worth $802,000 after purchasing an additional 67 shares during the period. True Wealth Design LLC raised its stake in Vertiv by 54.0% in the third quarter. True Wealth Design LLC now owns 194 shares of the company’s stock valued at $29,000 after purchasing an additional 68 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Vertiv by 67.6% during the third quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock worth $26,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.
Insider Buying and Selling at Vertiv
In related news, EVP Stephen Liang sold 5,501 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $170.48, for a total transaction of $937,810.48. Following the sale, the executive vice president owned 4,050 shares in the company, valued at $690,444. The trade was a 57.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.63% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
VRT has been the topic of several recent analyst reports. Evercore ISI raised their target price on shares of Vertiv from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vertiv in a research report on Monday, December 22nd. KGI Securities raised shares of Vertiv from a “hold” rating to an “outperform” rating in a research note on Thursday, October 23rd. Cfra Research upgraded Vertiv to a “moderate buy” rating in a research note on Tuesday, October 7th. Finally, Mizuho raised their target price on Vertiv from $165.00 to $198.00 and gave the company an “outperform” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.89.
Check Out Our Latest Report on Vertiv
Vertiv Price Performance
Shares of NYSE:VRT opened at $195.17 on Friday. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $202.45. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.83 and a quick ratio of 1.43. The company has a market cap of $74.62 billion, a price-to-earnings ratio of 73.65, a PEG ratio of 1.19 and a beta of 2.06. The firm has a 50 day simple moving average of $172.67 and a 200 day simple moving average of $158.47.
Vertiv Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, November 25th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, November 25th. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. Vertiv’s dividend payout ratio is currently 9.43%.
Vertiv 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.
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