FUKOKU MUTUAL LIFE INSURANCE Co Lowers Stake in Vertiv Holdings Co (NYSE:VRT)

FUKOKU MUTUAL LIFE INSURANCE Co cut its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 14.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,319 shares of the company’s stock after selling 1,265 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Vertiv were worth $728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRT. Clearbridge Investments LLC boosted its position in shares of Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after acquiring an additional 340,639 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Vertiv by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after purchasing an additional 8,579 shares during the last quarter. Janney Capital Management LLC acquired a new position in shares of Vertiv during the third quarter worth about $8,403,000. Assenagon Asset Management S.A. raised its stake in shares of Vertiv by 190.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock worth $5,564,000 after buying an additional 36,684 shares in the last quarter. Finally, Entropy Technologies LP boosted its position in shares of Vertiv by 42.4% during the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after purchasing an additional 9,479 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRT has been the subject of a number of recent research reports. TD Cowen lifted their price objective on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. UBS Group initiated coverage on shares of Vertiv in a research note on Wednesday. They set a “buy” rating and a $155.00 target price for the company. Bank of America boosted their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and a consensus target price of $125.40.

Vertiv Stock Performance

Shares of NYSE VRT opened at $121.07 on Friday. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $130.30. 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 firm has a market cap of $45.44 billion, a price-to-earnings ratio of 80.71, a P/E/G ratio of 1.35 and a beta of 1.58. The stock’s fifty day moving average price is $103.47 and its two-hundred day moving average price is $93.30.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, equities analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 6.67%.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

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.