Scotia Capital Inc. Has $1.73 Million Stock Holdings in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Scotia Capital Inc. increased its stake in Vertiv Holdings Co. by 14.3%, owning 23,958 shares worth approximately $1.73 million as of the latest SEC filing.
• Analysts have shown bullish sentiments towards Vertiv, with numerous firms raising their price targets; Roth Capital's new target is $157.00, while Mizuho has set it at $150.00.
• Vertiv recently increased its dividend to $0.0375 per share, reflecting a yield of 14.0%, up from its previous dividend of $0.01.

Scotia Capital Inc. grew its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,958 shares of the company's stock after purchasing an additional 3,006 shares during the quarter. Scotia Capital Inc.'s holdings in Vertiv were worth $1,730,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC acquired a new stake in Vertiv in the first quarter worth $26,000. North Star Investment Management Corp. lifted its position in Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock valued at $30,000 after purchasing an additional 412 shares during the last quarter. Sachetta LLC lifted its position in Vertiv by 242.0% in the 1st quarter. Sachetta LLC now owns 448 shares of the company's stock valued at $32,000 after purchasing an additional 317 shares during the last quarter. Colonial Trust Co SC boosted its stake in Vertiv by 211.9% during the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after purchasing an additional 214 shares during the period. Finally, Ameriflex Group Inc. bought a new stake in Vertiv during the 4th quarter valued at $37,000. 89.92% of the stock is owned by institutional investors.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Stephen Liang sold 43,683 shares of the firm'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 transaction, 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 disclosure for this sale can be found here. 2.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of research analyst reports. KGI Securities started coverage on shares of Vertiv in a research note on Thursday, April 24th. They set a "hold" rating on the stock. Melius Research raised Vertiv from a "hold" rating to a "strong-buy" rating and boosted their price objective for the stock from $134.00 to $165.00 in a research note on Tuesday, July 8th. Barclays set a $128.00 target price on Vertiv and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Finally, Citigroup raised their price objective on shares of Vertiv from $130.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Vertiv has an average rating of "Moderate Buy" and an average target price of $144.06.

Vertiv Stock Up 0.7%

VRT traded up $0.93 during midday trading on Wednesday, hitting $139.69. 4,076,225 shares of the company's stock traded hands, compared to its average volume of 8,929,675. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.35. The company has a market cap of $53.24 billion, a PE ratio of 66.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.77. The stock's fifty day simple moving average is $123.77 and its 200-day simple moving average is $104.75. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.12. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $0.67 earnings per share. The business's revenue was up 35.1% compared to the same quarter last year. As a group, equities analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal 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 issued a dividend of $0.0375 per share. This represents a dividend yield of 14.0%. This is a boost from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. Vertiv's dividend payout ratio is presently 7.18%.

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.