Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Vertiv Holdings Co. (NYSE:VRT – Free Report) by 6.9% in the third quarter, Holdings Channel reports. The firm owned 380,637 shares of the company’s stock after acquiring an additional 24,594 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Vertiv were worth $57,423,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. boosted its holdings in shares of Vertiv by 1,560.0% in the third quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 156 shares during the period. Promus Capital LLC purchased a new stake in Vertiv in the 2nd quarter valued at $26,000. Pacer Advisors Inc. raised its position in Vertiv by 67.6% in the 3rd quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. True Wealth Design LLC boosted its stake in Vertiv by 54.0% during the 3rd quarter. True Wealth Design LLC now owns 194 shares of the company’s stock worth $29,000 after purchasing an additional 68 shares during the period. Finally, Quent Capital LLC purchased a new position in Vertiv during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Vertiv Stock Down 1.9%
Shares of NYSE VRT opened at $254.25 on Friday. The stock has a market capitalization of $97.27 billion, a price-to-earnings ratio of 74.56, a price-to-earnings-growth ratio of 1.29 and a beta of 2.08. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $264.86. The firm has a 50-day moving average price of $195.04 and a 200 day moving average price of $171.73. The company has a quick ratio of 1.22, a current ratio of 1.55 and a debt-to-equity ratio of 0.73.
Wall Street Analyst Weigh In
VRT has been the subject of a number of research reports. Evercore reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Vertiv in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $281.00 price objective on shares of Vertiv in a research note on Thursday, February 12th. Mizuho lifted their target price on Vertiv from $198.00 to $290.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Royal Bank Of Canada upped their price target on Vertiv from $200.00 to $266.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $285.00 price target on shares of Vertiv in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $230.28.
Read Our Latest Research Report on VRT
About Vertiv
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.
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