Skandinaviska Enskilda Banken AB publ Has $8.77 Million Stake in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Vertiv Holdings Co. by 18.7%, owning 121,444 shares valued at approximately $8.77 million as of the end of the first quarter.
• Insiders have been selling off shares, with EVP Stephen Liang reducing his ownership by 82.06% after selling 43,683 shares, and insider Karsten Winther selling 5,500 shares, decreasing his ownership by 22.59%.
• Analysts are optimistic about Vertiv, with several firms upgrading their ratings, resulting in a consensus rating of "Buy" and an average price target of $136.76.

Skandinaviska Enskilda Banken AB publ boosted its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 18.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,444 shares of the company's stock after buying an additional 19,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Vertiv were worth $8,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Glynn Capital Management LLC increased its stake in shares of Vertiv by 83.1% during the 1st quarter. Glynn Capital Management LLC now owns 217,023 shares of the company's stock worth $15,669,000 after purchasing an additional 98,469 shares during the last quarter. Freemont Management S.A. increased its stake in shares of Vertiv by 43.4% during the 1st quarter. Freemont Management S.A. now owns 60,800 shares of the company's stock worth $4,390,000 after purchasing an additional 18,400 shares during the last quarter. Riposte Capital LLC increased its stake in shares of Vertiv by 54.5% during the 1st quarter. Riposte Capital LLC now owns 170,000 shares of the company's stock worth $12,274,000 after purchasing an additional 60,000 shares during the last quarter. Westover Capital Advisors LLC increased its stake in shares of Vertiv by 34.5% during the 1st quarter. Westover Capital Advisors LLC now owns 12,019 shares of the company's stock worth $868,000 after purchasing an additional 3,083 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Vertiv during the 1st quarter worth $1,488,000. Hedge funds and other institutional investors own 89.92% of the company's stock.

Insiders Place Their Bets

In other 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.01% of the company's stock.

Wall Street Analyst Weigh In

VRT has been the topic of several analyst reports. UBS Group restated a "buy" rating on shares of Vertiv in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their target price on shares of Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Barclays raised their target price on shares of Vertiv from $90.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $155.00 target price on shares of Vertiv in a research note on Thursday, July 10th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Vertiv has a consensus rating of "Moderate Buy" and a consensus price target of $137.89.

Vertiv Trading Up 1.9%

Shares of VRT traded up $2.71 on Wednesday, reaching $145.41. 11,187,024 shares of the company's stock were exchanged, compared to its average volume of 9,470,021. 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 stock has a market capitalization of $55.42 billion, a P/E ratio of 84.41, a price-to-earnings-growth ratio of 1.42 and a beta of 1.75. The business has a 50 day moving average price of $120.06 and a two-hundred day moving average price of $104.35. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84.

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 analysts' consensus estimates of $0.83 by $0.12. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.36 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The business's revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. 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 declared a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were issued a $0.0375 dividend. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio is 8.72%.

Vertiv Company 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.