OVERSEA CHINESE BANKING Corp Ltd Acquires 210,512 Shares of Vertiv Holdings Co. (NYSE:VRT)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 2,243.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,896 shares of the company's stock after buying an additional 210,512 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.06% of Vertiv worth $15,876,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC increased its stake in shares of Vertiv by 2.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after purchasing an additional 85 shares in the last quarter. Horizon Investment Services LLC increased its stake in shares of Vertiv by 4.1% in the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock worth $274,000 after purchasing an additional 95 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its stake in shares of Vertiv by 3.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock worth $367,000 after purchasing an additional 97 shares in the last quarter. Utah Retirement Systems increased its stake in shares of 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 purchasing an additional 100 shares in the last quarter. Finally, Wahed Invest LLC increased its stake in shares of Vertiv by 1.2% in the fourth quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock worth $1,000,000 after purchasing an additional 105 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

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 sale, the executive vice president owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. This represents a 82.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karsten Winther sold 5,500 shares of the company'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 completion of the sale, the insider directly owned 18,847 shares of the company's stock, valued at $1,777,837.51. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VRT. Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Roth Mkm started coverage on shares of Vertiv in a research note on Tuesday, April 8th. They set a "buy" rating and a $75.00 target price for the company. Cowen reaffirmed a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Finally, Melius Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating and raised their target price for the company from $134.00 to $165.00 in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Vertiv presently has an average rating of "Buy" and an average price target of $134.24.

Vertiv Price Performance

VRT stock opened at $123.41 on Monday. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $112.86 and a 200 day moving average price of $103.55. The stock has a market cap of $47.03 billion, a PE ratio of 71.75, a P/E/G ratio of 1.23 and a beta of 1.75.

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 firm had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the company earned $0.43 EPS. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were given a $0.0375 dividend. This represents a yield of 0.14%. This is a boost from Vertiv's previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. Vertiv's payout ratio 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.

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