Mirae Asset Global Investments Co. Ltd. Purchases 45,792 Shares of Vertiv Holdings Co (NYSE:VRT)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 62.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,749 shares of the company’s stock after purchasing an additional 45,792 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Vertiv were worth $13,720,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in VRT. Sanctuary Advisors LLC bought a new position in Vertiv in the 2nd quarter worth about $1,632,000. GAMMA Investing LLC raised its position in Vertiv by 102.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,904 shares of the company’s stock valued at $189,000 after purchasing an additional 962 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Vertiv in the 3rd quarter worth $304,000. Dynamic Advisor Solutions LLC purchased a new position in shares of Vertiv during the third quarter valued at $436,000. Finally, CWM LLC lifted its stake in Vertiv by 27.6% in the third quarter. CWM LLC now owns 18,891 shares of the company’s stock worth $1,879,000 after acquiring an additional 4,081 shares during the period. 89.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRT. JPMorgan Chase & Co. boosted their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. TD Cowen upped their price objective on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Oppenheimer lifted their target price on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Morgan Stanley assumed coverage on shares of Vertiv in a research report on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective on the stock. Finally, UBS Group started coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

Vertiv Stock Performance

Shares of NYSE VRT opened at $119.49 on Friday. The stock has a market cap of $44.85 billion, a price-to-earnings ratio of 79.66, a PEG ratio of 0.92 and a beta of 1.64. Vertiv Holdings Co has a 12 month low of $55.00 and a 12 month high of $155.84. The company has a 50 day simple moving average of $124.67 and a two-hundred day simple moving average of $106.78. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.13%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s dividend payout ratio is presently 6.67%.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jan Van Dokkum sold 38,647 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the sale, the director now directly owns 25,000 shares in the company, valued at $3,409,750. This trade represents a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. Company insiders own 5.01% of the company’s stock.

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.