Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in Vertiv Holdings Co (NYSE:VRT)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,444 shares of the company’s stock after buying an additional 3,975 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of Vertiv worth $38,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Algert Global LLC purchased a new position in Vertiv during the third quarter valued at approximately $518,000. Larson Financial Group LLC grew its position in shares of Vertiv by 232.9% during the 3rd quarter. Larson Financial Group LLC now owns 839 shares of the company’s stock valued at $83,000 after purchasing an additional 587 shares in the last quarter. Bank of Montreal Can grew its position in shares of Vertiv by 30.5% during the 3rd quarter. Bank of Montreal Can now owns 204,281 shares of the company’s stock valued at $20,103,000 after purchasing an additional 47,750 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Vertiv by 25.5% in the third quarter. The Manufacturers Life Insurance Company now owns 38,306 shares of the company’s stock worth $3,811,000 after purchasing an additional 7,783 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Vertiv in the third quarter worth $30,000. 89.92% of the stock is currently owned by institutional investors.

Vertiv Price Performance

VRT opened at $74.32 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $102.74 and its 200 day simple moving average is $111.48. The firm has a market cap of $28.30 billion, a price-to-earnings ratio of 58.06, a PEG ratio of 1.07 and a beta of 1.71. Vertiv Holdings Co has a 1 year low of $62.40 and a 1 year high of $155.84.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same period in the previous year, the business earned $0.56 EPS. As a group, analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv’s dividend payout ratio (DPR) is 11.72%.

Analysts Set New Price Targets

A number of brokerages have weighed in on VRT. Fox Advisors initiated coverage on Vertiv in a research note on Monday, January 6th. They issued an “equal weight” rating on the stock. Melius Research restated a “hold” rating and issued a $125.00 price objective on shares of Vertiv in a research report on Tuesday, January 28th. Barclays dropped their target price on shares of Vertiv from $111.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday. Melius lowered shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a report on Tuesday, January 28th. Finally, Royal Bank of Canada initiated coverage on shares of Vertiv in a research report on Friday, March 7th. They issued an “outperform” rating and a $121.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vertiv has a consensus rating of “Moderate Buy” and an average target price of $135.33.

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.