Central Pacific Bank Trust Division Has $104,000 Position in Vertiv Holdings Co (NYSE:VRT)

Central Pacific Bank Trust Division lessened its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 89.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,447 shares of the company's stock after selling 12,601 shares during the quarter. Central Pacific Bank Trust Division's holdings in Vertiv were worth $104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRT. Fifth Third Bancorp lifted its holdings in shares of Vertiv by 8.1% during the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company's stock valued at $128,000 after buying an additional 84 shares during the last quarter. Prestige Wealth Management Group LLC raised its position in Vertiv by 2.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock valued at $420,000 after acquiring an additional 85 shares in the last quarter. Horizon Investment Services LLC raised its position in Vertiv by 4.1% during the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock valued at $274,000 after acquiring an additional 95 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its stake in Vertiv by 3.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after acquiring an additional 97 shares during the last quarter. Finally, Utah Retirement Systems grew its position in Vertiv by 0.3% in the fourth quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock worth $4,465,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRT shares. Evercore ISI restated an "outperform" rating and set a $150.00 price target (up previously from $100.00) on shares of Vertiv in a report on Tuesday, May 27th. Morgan Stanley cut their target price on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup lowered their price objective on Vertiv from $153.00 to $98.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, KGI Securities assumed coverage on Vertiv in a report on Thursday, April 24th. They issued a "hold" rating for the company. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.38.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.63% of the company's stock.

Vertiv Stock Performance

VRT stock traded up $3.18 on Tuesday, reaching $112.41. 8,418,040 shares of the company were exchanged, compared to its average volume of 8,892,040. The firm has a market capitalization of $42.84 billion, a PE ratio of 87.82, a PEG ratio of 1.07 and a beta of 1.70. Vertiv Holdings Co has a 12 month low of $53.60 and a 12 month high of $155.84. The stock's fifty day moving average price is $86.89 and its 200 day moving average price is $105.01. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The business's revenue was up 24.2% compared to the same quarter last year. On average, research analysts anticipate that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.13%. Vertiv's dividend payout ratio (DPR) is 8.72%.

About Vertiv

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.