Meeder Asset Management Inc. Purchases 39,607 Shares of Vertiv Holdings Co (NYSE:VRT)

Meeder Asset Management Inc. increased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 1,441.8% in the third quarter, HoldingsChannel reports. The firm owned 42,354 shares of the company’s stock after purchasing an additional 39,607 shares during the period. Meeder Asset Management Inc.’s holdings in Vertiv were worth $4,214,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VRT. Krane Funds Advisors LLC acquired a new stake in shares of Vertiv during the third quarter worth approximately $29,000. Anchor Investment Management LLC bought a new stake in Vertiv during the 2nd quarter worth approximately $26,000. Global Trust Asset Management LLC acquired a new stake in Vertiv during the 3rd quarter valued at $30,000. Mather Group LLC. raised its position in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Vertiv in the third quarter worth $36,000. 89.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VRT shares. Citigroup raised their target price on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group dropped their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Bank of America increased their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho upped their price objective on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv presently has a consensus rating of “Buy” and an average target price of $125.40.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.01% of the stock is currently owned by company insiders.

Vertiv Trading Up 1.8 %

Shares of NYSE VRT opened at $123.05 on Tuesday. The company’s 50 day simple moving average is $106.34 and its 200 day simple moving average is $93.93. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a fifty-two week low of $41.01 and a fifty-two week high of $130.30. The firm has a market capitalization of $46.19 billion, a P/E ratio of 82.03, a P/E/G ratio of 1.31 and a beta of 1.58.

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

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. Vertiv’s payout ratio is presently 6.67%.

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.