Sumitomo Life Insurance Co. Purchases 12,800 Shares of Vertiv Holdings Co (NYSE:VRT)

Sumitomo Life Insurance Co. grew its position in Vertiv Holdings Co (NYSE:VRT) by 23.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,700 shares of the company’s stock after purchasing an additional 12,800 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Vertiv were worth $6,735,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. SeaCrest Wealth Management LLC grew its holdings in Vertiv by 14.0% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 16,146 shares of the company’s stock worth $1,606,000 after acquiring an additional 1,980 shares during the period. EdgeRock Capital LLC boosted its position in shares of Vertiv by 15.0% during the 3rd quarter. EdgeRock Capital LLC now owns 7,538 shares of the company’s stock valued at $750,000 after purchasing an additional 984 shares in the last quarter. Prospect Financial Services LLC acquired a new stake in Vertiv during the third quarter worth approximately $256,000. Swedbank AB increased its holdings in Vertiv by 23.2% in the third quarter. Swedbank AB now owns 830,996 shares of the company’s stock worth $82,676,000 after purchasing an additional 156,503 shares in the last quarter. Finally, NBC Securities Inc. lifted its stake in Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after buying an additional 112 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Stock Up 2.6 %

Vertiv stock traded up $2.84 during trading on Wednesday, hitting $110.31. 1,243,878 shares of the company were exchanged, compared to its average volume of 8,341,696. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The business’s 50 day moving average is $87.74 and its 200 day moving average is $88.65. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $113.43. The company has a market capitalization of $41.29 billion, a P/E ratio of 103.34, a PEG ratio of 1.42 and a beta of 1.59.

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

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VRT shares. Evercore ISI increased their target price on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Oppenheimer boosted their price target on shares of Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $110.44.

Vertiv 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.