Resona Asset Management Co. Ltd. Invests $11.40 Million in Vertiv Holdings Co (NYSE:VRT)

Resona Asset Management Co. Ltd. purchased a new stake in Vertiv Holdings Co (NYSE:VRT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,186 shares of the company’s stock, valued at approximately $11,400,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Vertiv by 25.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,306 shares of the company’s stock valued at $3,811,000 after purchasing an additional 7,783 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Vertiv by 531.7% in the third quarter. Benjamin Edwards Inc. now owns 2,110 shares of the company’s stock valued at $210,000 after buying an additional 1,776 shares during the last quarter. HighTower Advisors LLC raised its stake in Vertiv by 19.2% during the third quarter. HighTower Advisors LLC now owns 40,708 shares of the company’s stock valued at $3,999,000 after buying an additional 6,564 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Vertiv by 50.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,714 shares of the company’s stock worth $767,000 after buying an additional 2,598 shares during the last quarter. Finally, Royal London Asset Management Ltd. acquired a new position in shares of Vertiv in the 3rd quarter worth approximately $12,131,000. 89.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank of Canada assumed coverage on Vertiv in a research report on Friday, March 7th. They set an “outperform” rating and a $121.00 price target on the stock. Melius Research restated a “hold” rating and issued a $125.00 price target on shares of Vertiv in a research report on Tuesday, January 28th. Fox Advisors began coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “equal weight” rating for the company. Melius cut shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, January 28th. Finally, Barclays lowered their target price on Vertiv from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.67.

Vertiv Price Performance

NYSE VRT opened at $59.42 on Monday. The firm has a market capitalization of $22.63 billion, a PE ratio of 46.43, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. Vertiv Holdings Co has a 12 month low of $51.42 and a 12 month high of $155.84. The company’s 50 day simple moving average is $95.23 and its 200 day simple moving average is $111.10.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same period in the prior year, the firm posted $0.56 EPS. As a group, equities research analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.25%. Vertiv’s dividend payout ratio is currently 11.72%.

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.