Sumitomo Mitsui DS Asset Management Company Ltd Buys 37,670 Shares of Vertiv Holdings Co (NYSE:VRT)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 70.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 91,055 shares of the company’s stock after acquiring an additional 37,670 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Vertiv were worth $10,345,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VRT. Jennison Associates LLC increased its holdings in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after acquiring an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP boosted its position in Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares during the period. Castle Hook Partners LP boosted its position in Vertiv by 215.6% during the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after purchasing an additional 1,273,746 shares during the period. Whale Rock Capital Management LLC purchased a new position in shares of Vertiv in the third quarter worth about $110,517,000. Finally, Blue Whale Capital LLP purchased a new stake in shares of Vertiv during the 3rd quarter valued at approximately $93,481,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

NYSE VRT opened at $121.42 on Friday. Vertiv Holdings Co has a 52-week low of $55.00 and a 52-week high of $155.84. The company has a fifty day moving average of $124.52 and a 200-day moving average of $106.87. The company has a market capitalization of $45.57 billion, a P/E ratio of 80.95, a P/E/G ratio of 0.92 and a beta of 1.64. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.12%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is 6.67%.

Insider Transactions at Vertiv

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRT. Mizuho lifted their price objective on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group boosted their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America raised their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley started coverage on Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

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.