M&G Plc Takes $15.09 Million Position in Vertiv Holdings Co (NYSE:VRT)

M&G Plc bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the third quarter, Holdings Channel.com reports. The institutional investor bought 152,451 shares of the company’s stock, valued at approximately $15,093,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after acquiring an additional 1,766,784 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Vertiv during the second quarter valued at $331,091,000. Westfield Capital Management Co. LP boosted its holdings in Vertiv by 85.2% in the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Vertiv by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after purchasing an additional 451,830 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the business’s 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 completion of the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VRT shares. Evercore ISI boosted their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Citigroup upped their price objective on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group cut their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Mizuho increased their price target on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen lifted their price objective on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $122.11.

Vertiv Price Performance

Shares of NYSE VRT opened at $122.17 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a fifty day moving average of $98.93 and a 200 day moving average of $91.90. The firm has a market cap of $45.86 billion, a PE ratio of 81.45, a PEG ratio of 1.15 and a beta of 1.58. Vertiv Holdings Co has a one year low of $39.51 and a one year high of $124.86.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, research analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.08%. Vertiv’s payout ratio is currently 6.67%.

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.