Mirae Asset Global Investments Co. Ltd. Increases Stake in Vertiv Holdings Co (NYSE:VRT)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Vertiv Holdings Co (NYSE:VRT) by 33.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,706 shares of the company’s stock after buying an additional 3,673 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Vertiv were worth $706,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Simon Quick Advisors LLC grew its stake in shares of Vertiv by 1.0% during the 4th quarter. Simon Quick Advisors LLC now owns 20,065 shares of the company’s stock worth $964,000 after purchasing an additional 205 shares during the period. Hanseatic Management Services Inc. grew its stake in shares of Vertiv by 0.8% during the 3rd quarter. Hanseatic Management Services Inc. now owns 29,541 shares of the company’s stock worth $1,099,000 after purchasing an additional 246 shares during the period. Global Retirement Partners LLC grew its stake in shares of Vertiv by 30.0% during the 3rd quarter. Global Retirement Partners LLC now owns 1,588 shares of the company’s stock worth $61,000 after purchasing an additional 366 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Vertiv by 161.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock worth $25,000 after purchasing an additional 409 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Vertiv by 20.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,335 shares of the company’s stock worth $124,000 after purchasing an additional 564 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. Corporate insiders own 5.62% of the company’s stock.

Vertiv Stock Up 6.8 %

Shares of NYSE:VRT opened at $84.53 on Thursday. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The company has a fifty day simple moving average of $75.35 and a 200 day simple moving average of $56.87. The firm has a market cap of $32.29 billion, a PE ratio of 71.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59. Vertiv Holdings Co has a 12-month low of $12.22 and a 12-month high of $94.39.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities research analysts anticipate that Vertiv Holdings Co will post 2.36 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is 8.47%.

Analyst Ratings Changes

A number of brokerages recently commented on VRT. Mizuho increased their price objective on shares of Vertiv from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $65.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer began coverage on shares of Vertiv in a research note on Friday, April 5th. They issued an “outperform” rating and a $96.00 price objective on the stock. Citigroup increased their price objective on shares of Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Evercore ISI increased their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.56.

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.