Meeder Asset Management Inc. Acquires 47,806 Shares of Vertiv Holdings Co (NYSE:VRT)

Meeder Asset Management Inc. grew its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 112.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 90,160 shares of the company’s stock after purchasing an additional 47,806 shares during the period. Meeder Asset Management Inc.’s holdings in Vertiv were worth $10,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Silverleafe Capital Partners LLC bought a new stake in Vertiv during the fourth quarter worth $4,219,000. Foundations Investment Advisors LLC grew its stake in shares of Vertiv by 7.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock worth $21,076,000 after acquiring an additional 13,559 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Vertiv by 67.0% in the fourth quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock valued at $1,043,000 after purchasing an additional 3,682 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of Vertiv by 112.5% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock valued at $846,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Vertiv by 3,417.9% during the fourth quarter. Nordea Investment Management AB now owns 964,104 shares of the company’s stock worth $110,544,000 after purchasing an additional 936,698 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Performance

Shares of VRT stock opened at $74.32 on Monday. The firm’s 50 day moving average is $102.74 and its 200 day moving average is $111.69. The stock has a market capitalization of $28.30 billion, a P/E ratio of 58.06, a PEG ratio of 1.07 and a beta of 1.71. Vertiv Holdings Co has a 12 month low of $62.40 and a 12 month high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter in the prior year, the company earned $0.56 EPS. On average, sell-side analysts anticipate that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Tuesday, March 18th. Vertiv’s dividend payout ratio is presently 11.72%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada initiated coverage on shares of Vertiv in a research note on Friday, March 7th. They issued an “outperform” rating and a $121.00 price objective for the company. Evercore ISI dropped their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Morgan Stanley initiated coverage on Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective for the company. Citigroup lifted their target price on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Melius lowered shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.33.

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.