Resona Asset Management Co. Ltd. Reduces Stock Position in Vertiv Holdings Co. $VRT

Resona Asset Management Co. Ltd. trimmed its holdings in shares of Vertiv Holdings Co. (NYSE:VRT) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,215 shares of the company’s stock after selling 6,648 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Vertiv were worth $16,365,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in Vertiv by 25.9% during the first quarter. Empowered Funds LLC now owns 11,557 shares of the company’s stock valued at $834,000 after purchasing an additional 2,377 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Vertiv during the 2nd quarter valued at approximately $567,000. Ballentine Partners LLC purchased a new stake in Vertiv during the 2nd quarter valued at $372,000. TD Private Client Wealth LLC raised its holdings in Vertiv by 167.3% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,363 shares of the company’s stock valued at $175,000 after buying an additional 853 shares during the period. Finally, ORG Partners LLC lifted its position in Vertiv by 36.2% in the second quarter. ORG Partners LLC now owns 1,592 shares of the company’s stock worth $195,000 after buying an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of analyst reports. Evercore ISI boosted their price objective on shares of Vertiv from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. UBS Group upped their price target on shares of Vertiv from $173.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Mizuho raised their price objective on shares of Vertiv from $165.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. KGI Securities upgraded Vertiv from a “hold” rating to an “outperform” rating in a research report on Thursday, October 23rd. Finally, Oppenheimer increased their price target on Vertiv from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.89.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $182.55 on Monday. The firm’s 50 day simple moving average is $170.74 and its 200-day simple moving average is $157.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.43 and a current ratio of 1.83. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $202.45. The firm has a market cap of $69.80 billion, a PE ratio of 68.89, a price-to-earnings-growth ratio of 1.12 and a beta of 2.06.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were given a dividend of $0.0625 per share. This is a boost from Vertiv’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. Vertiv’s dividend payout ratio is presently 9.43%.

Insider Buying and Selling at Vertiv

In other news, EVP Stephen Liang sold 5,501 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $170.48, for a total transaction of $937,810.48. Following the transaction, the executive vice president directly owned 4,050 shares in the company, valued at approximately $690,444. This trade represents a 57.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.01% of the company’s stock.

Vertiv Company 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.