Commerce Bank Acquires 134 Shares of Vertiv Holdings Co. (NYSE:VRT)

Commerce Bank lifted its holdings in Vertiv Holdings Co. (NYSE:VRT) by 0.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,739 shares of the company’s stock after acquiring an additional 134 shares during the quarter. Commerce Bank’s holdings in Vertiv were worth $1,497,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of Vertiv by 21.9% in the fourth quarter. Northern Trust Corp now owns 2,713,234 shares of the company’s stock worth $308,251,000 after buying an additional 487,909 shares during the period. Renaissance Technologies LLC grew its position in Vertiv by 15.8% during the 4th quarter. Renaissance Technologies LLC now owns 2,404,712 shares of the company’s stock worth $273,199,000 after acquiring an additional 327,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Vertiv by 54.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company’s stock worth $263,000,000 after acquiring an additional 812,389 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Vertiv by 3.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,112,929 shares of the company’s stock valued at $240,051,000 after purchasing an additional 77,859 shares during the last quarter. Finally, New South Capital Management Inc. lifted its position in Vertiv by 1.7% in the first quarter. New South Capital Management Inc. now owns 2,110,392 shares of the company’s stock valued at $152,370,000 after purchasing an additional 34,643 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Roth Mkm initiated coverage on shares of Vertiv in a research note on Tuesday, April 8th. They issued a “buy” rating and a $75.00 target price on the stock. KGI Securities assumed coverage on shares of Vertiv in a research report on Thursday, April 24th. They issued a “hold” rating on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Vertiv in a report on Friday, July 11th. UBS Group raised their target price on Vertiv from $135.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, Morgan Stanley cut their target price on Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Vertiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.06.

Vertiv Stock Down 1.0%

Shares of Vertiv stock opened at $140.17 on Tuesday. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84. The company has a 50-day moving average of $123.19 and a 200 day moving average of $104.51. The firm has a market cap of $53.42 billion, a price-to-earnings ratio of 67.07, a PEG ratio of 1.25 and a beta of 1.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.35.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.12. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The company’s revenue was up 35.1% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. As a group, sell-side analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

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

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the sale, the executive vice president owned 9,551 shares of the company’s stock, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Karsten Winther sold 5,500 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider directly owned 18,847 shares in the company, valued at $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by corporate insiders.

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.