The Manufacturers Life Insurance Company Acquires 10,884 Shares of Vertiv Holdings Co (NYSE:VRT)

The Manufacturers Life Insurance Company raised its holdings in Vertiv Holdings Co (NYSE:VRT) by 55.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,523 shares of the company’s stock after purchasing an additional 10,884 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Vertiv were worth $2,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of VRT. Atticus Wealth Management LLC acquired a new stake in Vertiv in the first quarter valued at about $27,000. Mather Group LLC. raised its stake in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Vertiv in the second quarter worth about $34,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Vertiv during the 1st quarter valued at approximately $34,000. Finally, RiverPark Advisors LLC bought a new position in Vertiv in the 1st quarter valued at approximately $35,000. Institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

VRT has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price target 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 upgraded Vertiv from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Evercore ISI increased their target price on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group initiated coverage on Vertiv in a report on Monday. They set a “buy” rating and a $125.00 price target on the stock. Finally, TD Cowen upped their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $106.89.

Insider Activity

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 value 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 SEC, which can be accessed through this hyperlink. 5.01% of the stock is owned by company insiders.

Vertiv Stock Performance

Shares of VRT stock opened at $106.82 on Wednesday. The stock has a market capitalization of $39.99 billion, a PE ratio of 102.71, a PEG ratio of 1.26 and a beta of 1.59. The business’s 50 day simple moving average is $83.31 and its 200 day simple moving average is $87.50. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. Vertiv Holdings Co has a one year low of $34.60 and a one year high of $109.27.

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

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is 9.62%.

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.