Vertiv Holdings Co (NYSE:VRT) Holdings Boosted by Vestcor Inc

Vestcor Inc boosted its holdings in Vertiv Holdings Co (NYSE:VRT) by 155.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,734 shares of the company’s stock after acquiring an additional 24,189 shares during the period. Vestcor Inc’s holdings in Vertiv were worth $3,953,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. M&T Bank Corp raised its holdings in shares of Vertiv by 6.5% during the third quarter. M&T Bank Corp now owns 35,911 shares of the company’s stock valued at $3,573,000 after buying an additional 2,192 shares during the last quarter. Barclays PLC raised its holdings in shares of Vertiv by 51.4% during the third quarter. Barclays PLC now owns 431,586 shares of the company’s stock valued at $42,940,000 after buying an additional 146,463 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Vertiv by 36.2% during the third quarter. Continuum Advisory LLC now owns 1,481 shares of the company’s stock valued at $147,000 after acquiring an additional 394 shares during the period. Gordian Capital Singapore Pte Ltd increased its stake in shares of Vertiv by 112.5% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock valued at $846,000 after acquiring an additional 4,500 shares during the period. Finally, Groupama Asset Managment acquired a new position in shares of Vertiv during the third quarter valued at approximately $92,000. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In related news, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jan Van Dokkum sold 38,647 shares of Vertiv stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at $3,409,750. This trade represents a 60.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock worth $23,105,682 in the last quarter. 5.01% of the stock is currently owned by company insiders.

Vertiv Trading Down 3.5 %

Shares of NYSE:VRT opened at $121.74 on Wednesday. The firm has a fifty day moving average of $118.63 and a two-hundred day moving average of $97.58. The firm has a market capitalization of $45.69 billion, a P/E ratio of 81.16, a price-to-earnings-growth ratio of 1.38 and a beta of 1.61. Vertiv Holdings Co has a 12-month low of $44.31 and a 12-month high of $145.67. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last issued its earnings results 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 net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Mizuho raised their price objective on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. UBS Group began coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer lifted their price target on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $139.90.

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.