Resona Asset Management Co. Ltd. Sells 6,648 Shares of Vertiv Holdings Co. $VRT

Resona Asset Management Co. Ltd. lessened its stake in Vertiv Holdings Co. (NYSE:VRT) by 5.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,215 shares of the company’s stock after selling 6,648 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Vertiv were worth $16,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Vertiv by 46.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 557 shares of the company’s stock valued at $84,000 after buying an additional 177 shares in the last quarter. iA Global Asset Management Inc. lifted its position in Vertiv by 131.3% during the third quarter. iA Global Asset Management Inc. now owns 21,154 shares of the company’s stock valued at $3,191,000 after acquiring an additional 12,007 shares during the last quarter. Strs Ohio boosted its stake in Vertiv by 25.9% in the third quarter. Strs Ohio now owns 519,797 shares of the company’s stock valued at $78,417,000 after acquiring an additional 106,890 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in Vertiv in the third quarter worth $899,000. Finally, Olympiad Research LP acquired a new position in shares of Vertiv during the third quarter worth $288,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Mizuho raised their price objective on Vertiv from $165.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Citigroup raised their price target on Vertiv from $198.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Oppenheimer upped their price objective on shares of Vertiv from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. KGI Securities raised shares of Vertiv from a “hold” rating to an “outperform” rating in a research report on Thursday, October 23rd. Finally, Zacks Research raised shares of Vertiv from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vertiv has an average rating of “Moderate Buy” and a consensus price target of $187.89.

Vertiv Trading Up 0.8%

Shares of NYSE:VRT opened at $182.55 on Monday. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $202.45. The stock has a market cap of $69.80 billion, a price-to-earnings ratio of 68.89, a PEG ratio of 1.12 and a beta of 2.06. The business has a 50-day moving average price of $170.74 and a 200-day moving average price of $157.08.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, November 25th. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. Vertiv’s dividend payout ratio (DPR) is presently 9.43%.

Insider Activity at Vertiv

In other news, EVP Stephen Liang sold 5,501 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $170.48, for a total value of $937,810.48. Following the sale, the executive vice president owned 4,050 shares in the company, valued at $690,444. This represents a 57.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.01% of the stock is owned by company insiders.

Vertiv Company Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.