DekaBank Deutsche Girozentrale grew its stake in Vertiv Holdings Co. (NYSE:VRT – Free Report) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 644,854 shares of the company’s stock after buying an additional 43,916 shares during the period. DekaBank Deutsche Girozentrale owned 0.17% of Vertiv worth $83,118,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bogart Wealth LLC grew its holdings in shares of Vertiv by 22.9% during the second quarter. Bogart Wealth LLC now owns 1,472 shares of the company’s stock valued at $189,000 after buying an additional 274 shares during the last quarter. Lyell Wealth Management LP lifted its position in Vertiv by 41.6% during the 2nd quarter. Lyell Wealth Management LP now owns 105,062 shares of the company’s stock worth $13,491,000 after acquiring an additional 30,860 shares during the period. Stephens Inc. AR grew its stake in Vertiv by 5.3% during the 2nd quarter. Stephens Inc. AR now owns 50,261 shares of the company’s stock valued at $6,454,000 after purchasing an additional 2,536 shares during the last quarter. Balboa Wealth Partners increased its holdings in shares of Vertiv by 5.4% in the second quarter. Balboa Wealth Partners now owns 30,982 shares of the company’s stock valued at $3,978,000 after purchasing an additional 1,574 shares during the period. Finally, Eos Management L.P. purchased a new position in shares of Vertiv in the second quarter worth about $1,461,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.
Vertiv Price Performance
Shares of Vertiv stock opened at $174.74 on Wednesday. The firm has a market cap of $66.73 billion, a PE ratio of 83.61, a P/E/G ratio of 1.51 and a beta of 1.84. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $184.44. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $144.56 and a 200 day moving average price of $121.71.
Vertiv Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, September 15th. Vertiv’s dividend payout ratio (DPR) is presently 7.18%.
Analyst Ratings Changes
A number of equities research analysts recently commented on VRT shares. Glj Research began coverage on Vertiv in a research report on Tuesday, August 19th. They issued a “sell” rating and a $112.00 target price on the stock. Oppenheimer upped their price objective on shares of Vertiv from $151.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Redburn Atlantic raised shares of Vertiv to a “hold” rating in a report on Wednesday, August 20th. Morgan Stanley reaffirmed an “overweight” rating on shares of Vertiv in a report on Sunday, August 10th. Finally, Cfra Research raised Vertiv to a “moderate buy” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and a consensus price target of $162.95.
Check Out Our Latest Report on VRT
Insider Activity at Vertiv
In other news, insider Karsten Winther sold 41,654 shares of Vertiv stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $134.21, for a total value of $5,590,383.34. Following the sale, the insider owned 18,848 shares in the company, valued at $2,529,590.08. This trade represents a 68.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Reinemund sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $128.22, for a total transaction of $12,822,000.00. Following the sale, the director directly owned 133,333 shares of the company’s stock, valued at $17,095,957.26. This represents a 42.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 180,952 shares of company stock valued at $23,360,571. 5.01% of the stock is currently owned by company insiders.
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.
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