Stock Yards Bank & Trust Co. raised its stake in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) by 20.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,452 shares of the company’s stock after purchasing an additional 581 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Vertiv were worth $443,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ibex Wealth Advisors boosted its holdings in Vertiv by 10.5% in the 1st quarter. Ibex Wealth Advisors now owns 73,739 shares of the company’s stock valued at $5,324,000 after purchasing an additional 6,989 shares during the period. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Vertiv in the 1st quarter valued at $33,389,000. Outlook Wealth Advisors LLC acquired a new stake in shares of Vertiv in the 1st quarter valued at $475,000. Fox Run Management L.L.C. boosted its stake in shares of Vertiv by 449.9% in the 1st quarter. Fox Run Management L.L.C. now owns 21,545 shares of the company’s stock valued at $1,556,000 after purchasing an additional 17,627 shares in the last quarter. Finally, Maxi Investments CY Ltd boosted its stake in shares of Vertiv by 160.3% in the 1st quarter. Maxi Investments CY Ltd now owns 26,025 shares of the company’s stock valued at $1,879,000 after purchasing an additional 16,025 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
Vertiv Stock Down 0.7%
Shares of NYSE VRT opened at $160.45 on Friday. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $168.99. The firm’s 50-day moving average is $137.27 and its 200-day moving average is $113.95. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $61.27 billion, a PE ratio of 76.77, a price-to-earnings-growth ratio of 1.41 and a beta of 1.84.
Vertiv Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.1%. Vertiv’s dividend payout ratio is 7.18%.
Insider Buying and Selling
In other news, insider Paul Ryan sold 22,218 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $127.34, for a total value of $2,829,240.12. Following the completion of the sale, the insider directly owned 12,803 shares of the company’s stock, valued at $1,630,334.02. This represents a 63.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Karsten Winther sold 41,654 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $134.21, for a total value of $5,590,383.34. Following the completion of the sale, the insider directly owned 18,848 shares of the company’s stock, valued at approximately $2,529,590.08. This trade represents a 68.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,952 shares of company stock valued at $23,360,571. Insiders own 2.63% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Vertiv in a research note on Saturday, September 27th. Oppenheimer boosted their target price on shares of Vertiv from $140.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. The Goldman Sachs Group set a $159.00 price target on Vertiv in a report on Monday, September 29th. William Blair assumed coverage on Vertiv in a report on Monday, July 28th. They issued an “outperform” rating for the company. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Vertiv in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $144.95.
Get Our Latest Stock Analysis on VRT
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.
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