The Manufacturers Life Insurance Company Purchases 7,783 Shares of Vertiv Holdings Co (NYSE:VRT)

The Manufacturers Life Insurance Company raised its position in Vertiv Holdings Co (NYSE:VRT) by 25.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,306 shares of the company’s stock after acquiring an additional 7,783 shares during the period. The Manufacturers Life Insurance Company’s holdings in Vertiv were worth $3,811,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Anchor Investment Management LLC acquired a new position in shares of Vertiv in the second quarter valued at $26,000. Mather Group LLC. lifted its holdings in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Vertiv during the 3rd quarter valued at about $29,000. Global Trust Asset Management LLC bought a new stake in Vertiv in the third quarter valued at about $30,000. Finally, OFI Invest Asset Management bought a new position in Vertiv during the second quarter worth about $34,000. Institutional investors own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VRT shares. Oppenheimer increased their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Bank of America increased 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. Citigroup boosted their price target on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group started coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv presently has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Trading Down 0.5 %

Shares of NYSE VRT opened at $133.85 on Friday. Vertiv Holdings Co has a fifty-two week low of $44.14 and a fifty-two week high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The company’s 50 day simple moving average is $118.10 and its 200 day simple moving average is $97.42. The firm has a market capitalization of $50.24 billion, a P/E ratio of 89.23, a P/E/G ratio of 1.35 and a beta of 1.61.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.52 earnings per share. On average, analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Activity at Vertiv

In other news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the transaction, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock valued at $23,105,682 over the last quarter. 5.01% of the stock is owned by corporate insiders.

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.