Price T Rowe Associates Inc. MD Grows Position in Vertiv Holdings Co (NYSE:VRT)

Price T Rowe Associates Inc. MD grew its holdings in Vertiv Holdings Co (NYSE:VRT) by 303.1% in the first quarter, Holdings Channel reports. The institutional investor owned 4,777,057 shares of the company’s stock after acquiring an additional 3,591,903 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Vertiv were worth $390,143,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. BOKF NA lifted its holdings in Vertiv by 1,984,300.0% in the 1st quarter. BOKF NA now owns 79,376 shares of the company’s stock valued at $6,382,000 after purchasing an additional 79,372 shares in the last quarter. Beck Capital Management LLC boosted its stake in Vertiv by 102.6% during the first quarter. Beck Capital Management LLC now owns 76,282 shares of the company’s stock worth $6,230,000 after buying an additional 38,624 shares during the period. Steel Grove Capital Advisors LLC purchased a new stake in Vertiv in the first quarter valued at approximately $408,000. Lazard Asset Management LLC lifted its position in shares of Vertiv by 1,569.5% during the first quarter. Lazard Asset Management LLC now owns 158,723 shares of the company’s stock worth $12,961,000 after purchasing an additional 149,216 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Vertiv in the 1st quarter valued at approximately $48,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Trading Up 0.8 %

Shares of VRT stock traded up $0.64 on Friday, reaching $77.12. 7,834,561 shares of the stock were exchanged, compared to its average volume of 9,546,067. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. Vertiv Holdings Co has a 1-year low of $25.09 and a 1-year high of $109.27. The stock has a market cap of $28.87 billion, a P/E ratio of 74.15, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58. The firm has a 50 day moving average of $91.90 and a two-hundred day moving average of $79.97.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 49.53% and a net margin of 6.93%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $0.46 EPS. Vertiv’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.13%. The ex-dividend date was Monday, June 17th. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Buying and Selling at Vertiv

In related news, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction dated Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the sale, the insider now owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Doherty Philip O’ sold 2,511,295 shares of Vertiv stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $93.64, for a total value of $235,157,663.80. Following the transaction, the director now owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yibin Edward Cui sold 668 shares of the company’s stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares in the company, valued at approximately $1,836,074.28. The disclosure for this sale can be found here. Insiders have sold 3,674,034 shares of company stock worth $354,931,478 over the last quarter. 5.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America lifted their price target on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Oppenheimer lifted their price objective on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Evercore ISI raised their price target on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. TD Cowen boosted their price target on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

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.