FUKOKU MUTUAL LIFE INSURANCE Co Has $728,000 Stake in Vertiv Holdings Co (NYSE:VRT)

FUKOKU MUTUAL LIFE INSURANCE Co lessened its stake in Vertiv Holdings Co (NYSE:VRT) by 14.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,319 shares of the company’s stock after selling 1,265 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Vertiv were worth $728,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VRT. Krane Funds Advisors LLC purchased a new stake in Vertiv in the 3rd quarter worth approximately $29,000. Anchor Investment Management LLC purchased a new stake in shares of Vertiv during the second quarter worth about $26,000. Global Trust Asset Management LLC acquired a new position in shares of Vertiv in the third quarter valued at about $30,000. Mather Group LLC. boosted its holdings in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Vertiv in the third quarter valued at approximately $36,000. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VRT. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Bank of America boosted their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI lifted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on Vertiv in a research note on Wednesday. They set a “buy” rating and a $155.00 target price for the company. Finally, The Goldman Sachs Group lowered their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $125.40.

Vertiv Stock Down 2.8 %

VRT stock opened at $121.07 on Friday. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $130.30. The firm has a market capitalization of $45.44 billion, a PE ratio of 80.71, a PEG ratio of 1.35 and a beta of 1.58. The business’s 50 day simple moving average is $103.47 and its 200 day simple moving average is $93.30. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. Vertiv’s payout ratio is 6.67%.

About Vertiv

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.