Argent Trust Co Buys New Shares in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Argent Trust Co has acquired a new stake in Vertiv Holdings Co, purchasing 4,420 shares valued at approximately $319,000 during the 1st quarter.
• Vertiv recently reported a quarterly EPS of $0.95, surpassing analyst expectations of $0.83, with a revenue increase of 35.1% year-over-year.
• The company has declared a new dividend of $0.0375 per share, a significant increase from the previous rate, resulting in a dividend yield of 14.0%.

Argent Trust Co bought a new stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,420 shares of the company's stock, valued at approximately $319,000.

Several other hedge funds have also recently made changes to their positions in VRT. GW&K Investment Management LLC purchased a new stake in shares of Vertiv during the 1st quarter worth about $26,000. North Star Investment Management Corp. lifted its stake in Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock valued at $30,000 after buying an additional 412 shares in the last quarter. Sachetta LLC lifted its stake in Vertiv by 242.0% in the 1st quarter. Sachetta LLC now owns 448 shares of the company's stock valued at $32,000 after buying an additional 317 shares in the last quarter. Colonial Trust Co SC lifted its stake in Vertiv by 211.9% in the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after buying an additional 214 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in Vertiv in the 4th quarter worth approximately $37,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the transaction, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% 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 Karsten Winther sold 5,500 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the transaction, the insider owned 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.01% of the company's stock.

Vertiv Trading Down 1.0%

NYSE VRT opened at $138.84 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.35 and a current ratio of 1.74. The firm has a market cap of $52.91 billion, a PE ratio of 66.43, a P/E/G ratio of 1.23 and a beta of 1.77. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The firm's fifty day moving average is $123.77 and its two-hundred day moving average is $104.75.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.12. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. Vertiv's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 earnings per share. Analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. This represents a dividend yield of 14.0%. This is a positive change from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. Vertiv's dividend payout ratio (DPR) is presently 7.18%.

Analysts Set New Price Targets

A number of research analysts have weighed in on VRT shares. Roth Capital raised their target price on shares of Vertiv from $100.00 to $157.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Cowen reiterated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Melius Research upgraded shares of Vertiv from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $134.00 to $165.00 in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price target on shares of Vertiv from $143.00 to $162.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Barclays set a $128.00 price target on shares of Vertiv and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Vertiv has an average rating of "Moderate Buy" and a consensus target price of $144.06.

Vertiv 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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