M&T Bank Corp Raises Holdings in Vertiv Holdings Co (NYSE:VRT)

M&T Bank Corp grew its stake in Vertiv Holdings Co (NYSE:VRT) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,911 shares of the company’s stock after buying an additional 2,192 shares during the quarter. M&T Bank Corp’s holdings in Vertiv were worth $3,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC acquired a new stake in Vertiv in the second quarter valued at approximately $26,000. Krane Funds Advisors LLC acquired a new position in Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv in the 3rd quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Vertiv during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In other news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares in the company, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anand Sanghi sold 30,914 shares of the stock in a transaction dated Friday, November 22nd. The stock was 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 $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VRT has been the topic of a number of analyst reports. Evercore ISI raised their price target on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Bank of America raised their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Cowen boosted their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their price objective 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. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.09.

Vertiv Price Performance

Shares of NYSE:VRT opened at $125.07 on Friday. 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 Holdings Co has a one year low of $44.31 and a one year high of $145.67. The company has a 50-day simple moving average of $120.03 and a 200-day simple moving average of $98.07. The stock has a market capitalization of $46.94 billion, a price-to-earnings ratio of 83.38, a PEG ratio of 1.38 and a beta of 1.61.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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