Mirae Asset Global Investments Co. Ltd. Buys 41,598 Shares of Vertiv Holdings Co. $VRT

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Vertiv Holdings Co. (NYSE:VRT) by 29.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,457 shares of the company’s stock after acquiring an additional 41,598 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vertiv were worth $27,375,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of VRT. Vanguard Group Inc. raised its stake in shares of Vertiv by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 38,006,755 shares of the company’s stock worth $4,880,447,000 after purchasing an additional 291,596 shares in the last quarter. State Street Corp increased its holdings in Vertiv by 5.7% during the second quarter. State Street Corp now owns 8,269,839 shares of the company’s stock worth $1,061,930,000 after buying an additional 442,937 shares during the last quarter. Geode Capital Management LLC raised its position in Vertiv by 3.4% during the second quarter. Geode Capital Management LLC now owns 6,686,778 shares of the company’s stock worth $856,082,000 after acquiring an additional 219,970 shares in the last quarter. Invesco Ltd. raised its position in Vertiv by 20.9% during the second quarter. Invesco Ltd. now owns 5,931,488 shares of the company’s stock worth $761,662,000 after acquiring an additional 1,024,634 shares in the last quarter. Finally, Norges Bank acquired a new stake in Vertiv in the second quarter valued at $538,132,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Price Performance

Vertiv stock opened at $195.17 on Friday. The company has a market capitalization of $74.62 billion, a price-to-earnings ratio of 73.65, a PEG ratio of 1.19 and a beta of 2.06. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.83. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $202.45. The stock’s 50 day moving average is $172.67 and its 200-day moving average is $158.47.

Vertiv Increases Dividend

The company also recently disclosed 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 represents a $0.25 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, November 25th. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. Vertiv’s dividend payout ratio (DPR) is 9.43%.

Analyst Upgrades and Downgrades

VRT has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Vertiv in a research report on Thursday, January 15th. Zacks Research upgraded shares of Vertiv from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. Cfra Research raised Vertiv to a “moderate buy” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. dropped their price objective on Vertiv from $230.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, January 16th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $195.00 price objective (up from $162.00) on shares of Vertiv in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.89.

Insider Buying and Selling at Vertiv

In other news, EVP Stephen Liang sold 5,501 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $170.48, for a total value of $937,810.48. Following the completion of the sale, the executive vice president owned 4,050 shares of the company’s stock, valued at approximately $690,444. The trade was a 57.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.63% 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.