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OVERSEA CHINESE BANKING Corp Ltd Increases Position in Vertiv Holdings Co. (NYSE:VRT)

Vertiv logo with Computer and Technology background

Key Points

  • OVERSEA CHINESE BANKING Corp Ltd increased its stake in Vertiv Holdings Co. by 276%, now holding 35,281 shares valued at approximately $2.5 million after acquiring an additional 25,897 shares.
  • Vertiv reported a 35.1% year-over-year revenue increase with earnings per share of $0.95, exceeding analysts' expectations of $0.83.
  • The company increased its dividend to $0.0375 from the previous $0.01, resulting in a yield of 14.0% for shareholders.
  • Five stocks we like better than Vertiv.

OVERSEA CHINESE BANKING Corp Ltd raised its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 276.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,281 shares of the company's stock after buying an additional 25,897 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Vertiv were worth $2,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VRT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Vertiv by 54.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock valued at $263,000,000 after acquiring an additional 812,389 shares in the last quarter. Federated Hermes Inc. lifted its position in Vertiv by 61.7% in the 4th quarter. Federated Hermes Inc. now owns 1,874,256 shares of the company's stock valued at $212,946,000 after acquiring an additional 715,212 shares in the last quarter. Northern Trust Corp lifted its position in Vertiv by 21.9% in the 4th quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock valued at $308,251,000 after acquiring an additional 487,909 shares in the last quarter. Voloridge Investment Management LLC raised its stake in Vertiv by 370.7% during the 4th quarter. Voloridge Investment Management LLC now owns 607,384 shares of the company's stock valued at $69,005,000 after buying an additional 478,350 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Vertiv by 52.5% during the 4th quarter. Royal Bank of Canada now owns 1,173,242 shares of the company's stock valued at $133,293,000 after buying an additional 403,882 shares during the last quarter. Institutional investors own 89.92% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on VRT. KGI Securities began coverage on Vertiv in a research note on Thursday, April 24th. They issued a "hold" rating for the company. Roth Capital upped their price objective on Vertiv from $100.00 to $157.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. UBS Group upped their target price on shares of Vertiv from $135.00 to $173.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank Of Canada upped their target price on shares of Vertiv from $143.00 to $162.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Cowen reaffirmed a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.06.

Read Our Latest Stock Report on Vertiv

Vertiv Trading Down 1.0%

NYSE VRT traded down $1.42 during trading on Monday, hitting $140.17. The stock had a trading volume of 6,738,731 shares, compared to its average volume of 8,891,308. 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 stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 67.07, a P/E/G ratio of 1.25 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 stock has a 50 day simple moving average of $122.46 and a 200 day simple moving average of $104.48.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue was up 35.1% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. Sell-side analysts predict 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. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. The ex-dividend date was Monday, June 16th. This is an increase from Vertiv's previous dividend of $0.01. This represents a dividend yield of 14.0%. Vertiv's payout ratio is presently 7.18%.

Insider Buying and Selling at Vertiv

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

About Vertiv

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

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