Bank of New York Mellon Corp Sells 96,898 Shares of Vertiv Holdings Co. (NYSE:VRT)

Bank of New York Mellon Corp trimmed its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,260,502 shares of the company's stock after selling 96,898 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of Vertiv worth $163,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of Vertiv by 2,000.0% in the 4th quarter. Assetmark Inc. now owns 546 shares of the company's stock worth $62,000 after acquiring an additional 520 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Vertiv in the fourth quarter valued at about $14,495,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Vertiv by 8.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,325 shares of the company's stock valued at $291,000 after acquiring an additional 180 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Vertiv by 17.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 32,954 shares of the company's stock worth $3,744,000 after buying an additional 4,888 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Vertiv by 30.5% in the fourth quarter. Larson Financial Group LLC now owns 1,095 shares of the company's stock valued at $124,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VRT. Melius Research upgraded Vertiv from a "hold" rating to a "strong-buy" rating and upped their target price for the stock from $134.00 to $165.00 in a research note on Tuesday. KGI Securities assumed coverage on shares of Vertiv in a report on Thursday, April 24th. They issued a "hold" rating on the stock. Cowen restated a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price target for the company in a research note on Tuesday. Finally, Roth Capital raised shares of Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Vertiv has an average rating of "Buy" and an average target price of $131.69.

Insider Activity

In other news, EVP Stephen Liang sold 43,683 shares of the company's 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 transaction, the executive vice president owned 9,551 shares in the company, valued at $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider owned 18,847 shares of the company's stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by insiders.

Vertiv Stock Up 0.8%

VRT stock traded up $0.99 during mid-day trading on Wednesday, hitting $126.88. 934,403 shares of the company were exchanged, compared to its average volume of 8,514,600. The company has a market capitalization of $48.36 billion, a PE ratio of 73.84, a price-to-earnings-growth ratio of 1.25 and a beta of 1.75. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The firm has a fifty day simple moving average of $110.86 and a 200 day simple moving average of $103.53.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $0.43 EPS. Vertiv's revenue was up 24.2% on a year-over-year basis. On average, research analysts forecast 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. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This is a positive change from Vertiv's previous dividend of $0.01. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. Vertiv's payout ratio is 8.72%.

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.