Vertiv Holdings Co (NYSE:VRT) Stake Lessened by Meiji Yasuda Life Insurance Co

18 Sep 2024, 14:39 by Renee Jackson · The Cerbat Gem

Meiji Yasuda Life Insurance Co cut its stake in Vertiv Holdings Co (NYSE:VRT – Free Report) by 3.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 25,041 shares of the company’s stock after selling 870 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Vertiv were worth $2,168,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in VRT. Vanguard Personalized Indexing Management LLC raised its stake in shares of 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. Quadrant Capital Group LLC raised its stake in Vertiv by 24.7% during the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after buying an additional 170 shares in the last quarter. Level Four Advisory Services LLC lifted its holdings in Vertiv by 6.7% during the 4th quarter. Level Four Advisory Services LLC now owns 13,012 shares of the company’s stock worth $625,000 after buying an additional 813 shares during the last quarter. Norges Bank bought a new position in Vertiv during the 4th quarter worth approximately $185,339,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Vertiv in the 4th quarter worth approximately $1,817,000. 89.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VRT shares. Evercore ISI restated an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. TD Cowen boosted their price objective 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, Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $102.13.

Read Our Latest Stock Analysis on Vertiv

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Vertiv Trading Up 0.3 %

Shares of NYSE:VRT opened at $87.28 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company’s 50-day moving average price is $79.54 and its 200 day moving average price is $85.02. The company has a market cap of $32.67 billion, a PE ratio of 83.92, a P/E/G ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a fifty-two week low of $34.60 and a fifty-two week high of $109.27.

Vertiv (NYSE:VRT – Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s payout ratio is 9.62%.

About Vertiv

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