Federated Hermes Inc. lifted its holdings in shares of Vertiv Holdings Co (NYSE:VRT – Free Report) by 31.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 897,909 shares of the company’s stock after buying an additional 215,138 shares during the quarter. Federated Hermes Inc. owned approximately 0.24% of Vertiv worth $77,732,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in shares of Vertiv during the fourth quarter worth about $1,018,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Vertiv during the fourth quarter worth approximately $1,062,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Vertiv by 104.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 307,920 shares of the company’s stock valued at $14,032,000 after purchasing an additional 157,171 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Vertiv by 6.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 21,331 shares of the company’s stock valued at $1,025,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Vertiv by 24.7% during the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock worth $41,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Wall Street Analysts Forecast Growth
VRT has been the subject of a number of recent research reports. Evercore ISI reiterated an “outperform” rating and issued a $105.00 price objective on shares of Vertiv in a report on Thursday, August 15th. 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. TD Cowen boosted their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group reduced their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $96.22.
Insiders Place Their Bets
In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated 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 transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.01% of the company’s stock.
Vertiv Price Performance
Vertiv stock opened at $85.74 on Friday. The company’s 50 day simple moving average is $79.75 and its 200-day simple moving average is $84.51. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $109.27. The company has a market capitalization of $32.10 billion, a price-to-earnings ratio of 82.44, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58.
Vertiv (NYSE:VRT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current year.
Vertiv Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be given a $0.025 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.12%. Vertiv’s dividend payout ratio is presently 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.
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