M&T Bank Corp Has $2.98 Million Position in Vertiv Holdings Co. (NYSE:VRT)

M&T Bank Corp boosted its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,242 shares of the company's stock after purchasing an additional 4,306 shares during the period. M&T Bank Corp's holdings in Vertiv were worth $2,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after purchasing an additional 1,244,780 shares during the last quarter. Geode Capital Management LLC lifted its stake in Vertiv by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock valued at $688,260,000 after purchasing an additional 99,181 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv during the fourth quarter valued at approximately $597,379,000. Wellington Management Group LLP lifted its position in shares of Vertiv by 25.3% in the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after acquiring an additional 990,361 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Vertiv by 4.8% in the 4th quarter. Clearbridge Investments LLC now owns 3,647,326 shares of the company's stock valued at $414,373,000 after acquiring an additional 167,061 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Up 2.2%

Shares of VRT traded up $2.69 during mid-day trading on Friday, hitting $123.41. 7,216,508 shares of the company's stock were exchanged, compared to its average volume of 8,618,671. The firm has a fifty day moving average of $112.86 and a two-hundred day moving average of $103.65. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The stock has a market cap of $47.03 billion, a price-to-earnings ratio of 40.29, a P/E/G ratio of 1.23 and a beta of 1.75. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.94 billion. During the same quarter in the prior year, the business posted $0.43 EPS. Vertiv's quarterly revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The firm 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 is a positive change from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 0.14%. Vertiv's dividend payout ratio is 8.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays upped their price target on shares of Vertiv from $90.00 to $110.00 and gave the company an "equal weight" rating in a research report on Wednesday. Roth Capital upgraded shares of Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. Roth Mkm assumed coverage on shares of Vertiv in a research report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price target for the company. Cowen restated a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Finally, Morgan Stanley reduced their price target on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $134.24.

Insiders Place Their Bets

In related news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction 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 transaction, the executive vice president owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their position. 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 Vertiv stock in a transaction 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 completion of the transaction, the insider owned 18,847 shares in the company, 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. Company insiders own 5.01% of the company's stock.

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.