Bank of New York Mellon Corp Buys 33,012 Shares of Vertiv Holdings Co. $VRT

Bank of New York Mellon Corp boosted its stake in shares of Vertiv Holdings Co. (NYSE:VRT) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,143,067 shares of the company’s stock after buying an additional 33,012 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vertiv were worth $323,303,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRT. Financial Management Professionals Inc. lifted its position in shares of Vertiv by 1,560.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock valued at $25,000 after buying an additional 156 shares in the last quarter. Promus Capital LLC bought a new stake in Vertiv during the 2nd quarter worth approximately $26,000. Pacer Advisors Inc. lifted its holdings in Vertiv by 67.6% during the third quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. Avion Wealth boosted its position in shares of Vertiv by 99.1% in the second quarter. Avion Wealth now owns 213 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the period. Finally, True Wealth Design LLC increased its stake in shares of Vertiv by 54.0% in the third quarter. True Wealth Design LLC now owns 194 shares of the company’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

NYSE:VRT opened at $195.17 on Friday. The business’s 50-day moving average is $172.67 and its 200 day moving average is $158.47. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $202.45. The company has a market capitalization of $74.62 billion, a P/E ratio of 73.65, a P/E/G 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, November 25th were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, November 25th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Vertiv’s previous quarterly dividend of $0.04. Vertiv’s dividend payout ratio is currently 9.43%.

Analysts Set New Price Targets

VRT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $216.00 target price on shares of Vertiv and gave the company a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Vertiv in a research report on Monday, December 22nd. Wolfe Research lowered Vertiv from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 9th. UBS Group lifted their target price on Vertiv from $173.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Vertiv from $230.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, January 16th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $187.89.

Insiders Place Their Bets

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

About Vertiv

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.