Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,960 shares of the company’s stock, valued at approximately $490,000.
Several other hedge funds have also recently added to or reduced their stakes in VRT. Empowered Funds LLC raised its stake in Vertiv by 25.9% during the 1st quarter. Empowered Funds LLC now owns 11,557 shares of the company’s stock valued at $834,000 after acquiring an additional 2,377 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Vertiv during the 2nd quarter valued at $567,000. Cary Street Partners Financial LLC raised its stake in Vertiv by 19.8% during the 2nd quarter. Cary Street Partners Financial LLC now owns 1,390 shares of the company’s stock valued at $178,000 after acquiring an additional 230 shares in the last quarter. Bank of Nova Scotia raised its stake in Vertiv by 49.7% during the 2nd quarter. Bank of Nova Scotia now owns 29,239 shares of the company’s stock valued at $3,755,000 after acquiring an additional 9,712 shares in the last quarter. Finally, Ossiam bought a new stake in Vertiv during the 2nd quarter valued at $50,000. Institutional investors own 89.92% of the company’s stock.
Vertiv Stock Up 6.0%
VRT opened at $297.80 on Friday. Vertiv Holdings Co. has a one year low of $108.81 and a one year high of $379.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.15 and a current ratio of 1.49. The stock’s fifty day moving average is $315.26 and its 200-day moving average is $244.00. The company has a market capitalization of $114.39 billion, a PE ratio of 74.82, a P/E/G ratio of 1.22 and a beta of 2.03.
Vertiv Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Monday, June 15th. Vertiv’s payout ratio is presently 6.28%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on VRT shares. Barclays lifted their target price on Vertiv from $345.00 to $412.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $281.00 target price on shares of Vertiv in a research note on Thursday, February 12th. Sanford C. Bernstein started coverage on Vertiv in a research note on Tuesday. They issued an “outperform” rating and a $416.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Vertiv from $305.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Wall Street Zen raised Vertiv from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.39.
Read Our Latest Research Report on VRT
Vertiv Profile
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.
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