Pitcairn Co. Has $1.02 Million Holdings in Vertiv Holdings Co (NYSE:VRT)

Pitcairn Co. decreased its holdings in Vertiv Holdings Co (NYSE:VRT) by 23.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,251 shares of the company’s stock after selling 3,172 shares during the quarter. Pitcairn Co.’s holdings in Vertiv were worth $1,020,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC lifted its stake in Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after purchasing an additional 340,639 shares during the last quarter. Whittier Trust Co. grew its position in Vertiv by 7.2% in the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after acquiring an additional 8,579 shares during the last quarter. Janney Capital Management LLC acquired a new position in Vertiv during the third quarter worth about $8,403,000. Assenagon Asset Management S.A. lifted its holdings in shares of Vertiv by 190.7% in the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock worth $5,564,000 after acquiring an additional 36,684 shares during the last quarter. Finally, Entropy Technologies LP boosted its stake in shares of Vertiv by 42.4% in the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after purchasing an additional 9,479 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Insider Activity at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value 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 80.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,185 shares of company stock worth $10,074,936 in the last quarter. Company insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

VRT has been the subject of several research reports. Citigroup increased their target price on Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group raised their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. TD Cowen boosted their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Bank of America raised their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Oppenheimer boosted their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Price Performance

VRT stock opened at $140.15 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a market cap of $52.60 billion, a price-to-earnings ratio of 93.43, a PEG ratio of 1.45 and a beta of 1.58. The company’s fifty day simple moving average is $110.94 and its 200 day simple moving average is $95.18. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $145.67.

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. On average, analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is currently 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.