Spectrum Asset Management Inc. NB CA Makes New $911,000 Investment in Vertiv Holdings Co (NYSE:VRT)

Spectrum Asset Management Inc. NB CA bought a new position in Vertiv Holdings Co (NYSE:VRT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 9,160 shares of the company’s stock, valued at approximately $911,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new stake in Vertiv during the 2nd quarter valued at $26,000. Atticus Wealth Management LLC bought a new stake in shares of Vertiv in the first quarter worth about $27,000. Mather Group LLC. increased its holdings in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Vertiv in the third quarter worth about $29,000. Finally, OFI Invest Asset Management bought a new stake in shares of Vertiv in the 2nd quarter valued at approximately $34,000. Institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VRT shares. Mizuho boosted their target price on shares of Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. The Goldman Sachs Group cut their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Bank of America upped their target price on Vertiv from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI upped their price objective on Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv has an average rating of “Buy” and a consensus price target of $112.44.

Vertiv Stock Performance

NYSE VRT opened at $108.26 on Thursday. The stock has a market cap of $40.53 billion, a PE ratio of 104.10, a P/E/G ratio of 1.42 and a beta of 1.59. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $116.41. The stock has a fifty day simple moving average of $92.37 and a 200-day simple moving average of $89.83.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the business posted $0.46 EPS. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) 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.