Victory Capital Management Inc. Grows Position in Vertiv Holdings Co (NYSE:VRT)

Victory Capital Management Inc. boosted its stake in Vertiv Holdings Co (NYSE:VRT) by 14.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 411,511 shares of the company’s stock after purchasing an additional 50,763 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of Vertiv worth $40,941,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of VRT. Empowered Funds LLC purchased a new stake in Vertiv in the first quarter valued at approximately $372,000. US Bancorp DE grew its holdings in Vertiv by 25.7% in the first quarter. US Bancorp DE now owns 14,412 shares of the company’s stock valued at $1,177,000 after purchasing an additional 2,951 shares during the period. Blair William & Co. IL purchased a new stake in Vertiv during the first quarter worth approximately $284,000. Vanguard Group Inc. grew its stake in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Vertiv by 1,019.3% during the first quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock worth $326,000 after buying an additional 3,649 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRT has been the subject of several research reports. Oppenheimer boosted their price objective on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. TD Cowen boosted their target price on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Bank of America boosted their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $125.40.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is owned by corporate insiders.

Vertiv Trading Down 0.1 %

VRT opened at $120.86 on Friday. The stock has a market capitalization of $45.36 billion, a PE ratio of 80.57, a P/E/G ratio of 1.35 and a beta of 1.58. The firm’s fifty day moving average price is $104.39 and its 200 day moving average price is $93.49. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $130.30.

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

Vertiv Announces Dividend

The firm 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 dividend payout ratio (DPR) is 6.67%.

Vertiv 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.