Pitcairn Co. Trims Holdings in Vertiv Holdings Co (NYSE:VRT)

Pitcairn Co. decreased its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 23.6% during the third quarter, HoldingsChannel.com reports. The firm owned 10,251 shares of the company’s stock after selling 3,172 shares during the period. Pitcairn Co.’s holdings in Vertiv were worth $1,020,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in shares of Vertiv in the second quarter valued at approximately $26,000. Mather Group LLC. lifted its stake in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Krane Funds Advisors LLC bought a new position in Vertiv in the 3rd quarter valued at $29,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv during the 3rd quarter valued at $30,000. Finally, OFI Invest Asset Management bought a new position in shares of Vertiv in the second quarter worth $34,000. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction 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 sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were 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 trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,185 shares of company stock worth $10,074,936 in the last ninety days. 5.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Bank of America lifted their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective 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. Oppenheimer lifted their target price on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI boosted their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Trading Down 0.9 %

VRT stock opened at $140.15 on Monday. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $145.67. The company has a market capitalization of $52.60 billion, a PE ratio of 93.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.58. The company’s 50 day moving average price is $110.94 and its two-hundred day moving average price is $95.18. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. As a group, analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business 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 dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.11%. Vertiv’s dividend payout ratio is currently 6.67%.

Vertiv Company Profile

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.