Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 747,767 shares of the company’s stock after selling 57,320 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.20% of Vertiv worth $64,734,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Vertiv during the fourth quarter valued at approximately $185,339,000. Price T Rowe Associates Inc. MD grew its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares during the period. Coatue Management LLC grew its position in Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after buying an additional 2,249,353 shares during the period. Vanguard Group Inc. grew its position in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after buying an additional 1,766,784 shares during the period. Finally, Castle Hook Partners LP bought a new stake in Vertiv during the first quarter valued at approximately $135,987,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertiv

In other news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the sale, the director now owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VRT shares. JPMorgan Chase & Co. upped their price target on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. TD Cowen upped their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Oppenheimer upped their price target on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Citigroup upped their price target on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $96.22.

Vertiv Price Performance

Vertiv stock traded down $3.54 during mid-day trading on Friday, reaching $79.42. 6,846,381 shares of the company’s stock traded hands, compared to its average volume of 8,821,448. The company has a market cap of $29.73 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 0.97 and a beta of 1.58. The stock has a 50 day moving average of $84.51 and a two-hundred day moving average of $82.30. The company has a quick ratio of 0.98, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Vertiv Holdings Co has a 12-month low of $32.38 and a 12-month high of $109.27.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Equities analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s payout ratio is 9.62%.

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.