Whittier Trust Co. Boosts Stock Holdings in Vertiv Holdings Co. $VRT
by Michael Walen · The Markets DailyWhittier Trust Co. lifted its position in Vertiv Holdings Co. (NYSE:VRT – Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,932 shares of the company’s stock after acquiring an additional 3,230 shares during the quarter. Whittier Trust Co.’s holdings in Vertiv were worth $22,738,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Vertiv by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,006,755 shares of the company’s stock worth $4,880,447,000 after buying an additional 291,596 shares during the last quarter. State Street Corp increased its position in shares of Vertiv by 5.7% during the 2nd quarter. State Street Corp now owns 8,269,839 shares of the company’s stock valued at $1,061,930,000 after purchasing an additional 442,937 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Vertiv by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,686,778 shares of the company’s stock worth $856,082,000 after purchasing an additional 219,970 shares during the period. Invesco Ltd. boosted its holdings in shares of Vertiv by 20.9% in the 2nd quarter. Invesco Ltd. now owns 5,931,488 shares of the company’s stock worth $761,662,000 after buying an additional 1,024,634 shares during the last quarter. Finally, Norges Bank bought a new position in Vertiv during the second quarter valued at about $538,132,000. 89.92% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. KGI Securities raised shares of Vertiv from a “hold” rating to an “outperform” rating in a report on Thursday, October 23rd. Barclays upgraded Vertiv from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $181.00 to $200.00 in a research report on Friday, January 2nd. Wolfe Research cut Vertiv from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 9th. TD Cowen reaffirmed a “buy” rating and set a $211.00 target price on shares of Vertiv in a report on Monday, December 1st. Finally, Oppenheimer increased their price target on shares of Vertiv from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.89.
Get Our Latest Stock Report on VRT
Insiders Place Their Bets
In other Vertiv news, EVP Stephen Liang sold 5,501 shares of Vertiv stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $170.48, for a total transaction of $937,810.48. Following the completion of the sale, the executive vice president owned 4,050 shares of the company’s stock, valued at $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 available at this hyperlink. 2.63% of the stock is owned by insiders.
Vertiv Stock Up 0.8%
VRT stock opened at $182.55 on Friday. The company’s 50 day moving average is $170.74 and its 200 day moving average is $156.87. The stock has a market cap of $69.80 billion, a price-to-earnings ratio of 68.89, a price-to-earnings-growth ratio of 1.09 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 Holdings Co. has a 1-year low of $53.60 and a 1-year high of $202.45.
Vertiv (NYSE:VRT – Get Free Report) last announced its earnings results on Wednesday, October 22nd. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.59 billion. Vertiv had a net margin of 10.67% and a return on equity of 50.82%. Vertiv’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. Sell-side analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.
Vertiv Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, November 25th were paid a $0.0625 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, November 25th. Vertiv’s payout ratio is currently 9.43%.
Vertiv Profile
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.
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