Vertiv Holdings Co. (NYSE:VRT) Position Increased by Prudential PLC

Prudential PLC boosted its holdings in Vertiv Holdings Co. (NYSE:VRT) by 24.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 79,525 shares of the company’s stock after buying an additional 15,446 shares during the quarter. Prudential PLC’s holdings in Vertiv were worth $5,742,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Focus Partners Advisor Solutions LLC raised its stake in shares of Vertiv by 3.1% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company’s stock valued at $367,000 after acquiring an additional 97 shares in the last quarter. Utah Retirement Systems grew its holdings in Vertiv by 0.3% during the fourth quarter. Utah Retirement Systems now owns 39,300 shares of the company’s stock valued at $4,465,000 after purchasing an additional 100 shares during the last quarter. Wahed Invest LLC grew its holdings in Vertiv by 1.2% during the fourth quarter. Wahed Invest LLC now owns 8,798 shares of the company’s stock valued at $1,000,000 after purchasing an additional 105 shares during the last quarter. Ellevest Inc. raised its position in shares of Vertiv by 5.9% in the fourth quarter. Ellevest Inc. now owns 2,393 shares of the company’s stock valued at $272,000 after purchasing an additional 133 shares during the period. Finally, Commerce Bank raised its position in shares of Vertiv by 0.7% in the first quarter. Commerce Bank now owns 20,739 shares of the company’s stock valued at $1,497,000 after purchasing an additional 134 shares during the period. Institutional investors own 89.92% of the company’s stock.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the transaction, the executive vice president directly owned 9,551 shares of the company’s stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VRT shares. JPMorgan Chase & Co. raised their price target on Vertiv from $127.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Citigroup raised their target price on Vertiv from $130.00 to $149.00 and gave the company a “buy” rating in a report on Monday, July 14th. KGI Securities began coverage on Vertiv in a research report on Thursday, April 24th. They issued a “hold” rating for the company. Wall Street Zen upgraded shares of Vertiv from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 21st. Finally, Cowen reiterated a “buy” rating on shares of Vertiv in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.06.

Vertiv Trading Down 4.3%

Shares of VRT opened at $137.57 on Thursday. The stock has a 50 day simple moving average of $127.37 and a 200-day simple moving average of $104.81. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84. The stock has a market cap of $52.53 billion, a PE ratio of 65.82, a PEG ratio of 1.27 and a beta of 1.77. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 0.93.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.12. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The company’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. On average, sell-side analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a $0.0375 dividend. This is an increase from Vertiv’s previous dividend of $0.01. This represents a yield of 14.0%. The ex-dividend date of this dividend was Monday, June 16th. Vertiv’s payout ratio is presently 7.18%.

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.