CANADA LIFE ASSURANCE Co Grows Stake in Vertiv Holdings Co (NYSE:VRT)

CANADA LIFE ASSURANCE Co lifted its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 157.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 223,914 shares of the company’s stock after buying an additional 136,956 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Vertiv were worth $18,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of VRT. Nordea Investment Management AB purchased a new stake in shares of Vertiv in the fourth quarter worth $1,040,000. PNC Financial Services Group Inc. increased its stake in Vertiv by 296.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after purchasing an additional 9,870 shares in the last quarter. Xponance Inc. raised its holdings in Vertiv by 2.9% in the fourth quarter. Xponance Inc. now owns 14,984 shares of the company’s stock worth $720,000 after buying an additional 426 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Vertiv by 58.8% in the fourth quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock worth $26,312,000 after buying an additional 202,766 shares in the last quarter. Finally, WT Asset Management Ltd purchased a new stake in shares of Vertiv during the fourth quarter valued at approximately $24,486,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Price Performance

NYSE:VRT opened at $76.46 on Friday. The stock has a market cap of $28.62 billion, a PE ratio of 73.52, a P/E/G ratio of 1.11 and a beta of 1.58. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The business’s 50-day simple moving average is $92.30 and its two-hundred day simple moving average is $79.56. Vertiv Holdings Co has a 52 week low of $25.09 and a 52 week high of $109.27.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 49.53% and a net margin of 6.93%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $0.46 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, analysts forecast that Vertiv Holdings Co will post 2.5 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were given a dividend of $0.025 per share. The ex-dividend date was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. Vertiv’s dividend payout ratio is 9.62%.

Insider Activity at Vertiv

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the sale, the director now owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Vertiv news, Director Roger Fradin sold 16,667 shares of Vertiv stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total value of $1,731,034.62. Following the completion of the transaction, the director now directly owns 218,333 shares of the company’s stock, valued at approximately $22,676,065.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now owns 6,882,859 shares in the company, valued at $752,296,488.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,674,034 shares of company stock valued at $354,931,478. Corporate insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of recent research reports. Evercore ISI increased their target price on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. TD Cowen upped their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Mizuho boosted their price target on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Finally, Oppenheimer upped their price target on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.56.

Vertiv Company 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.