TD Asset Management Inc Buys 2,461 Shares of Vertiv Holdings Co. (NYSE:VRT)

Key Points

• TD Asset Management Inc increased its stake in Vertiv Holdings Co. by 3.9% during the 1st quarter, acquiring an additional 2,461 shares, bringing its total ownership to 65,836 shares valued at $4.75 million.
• Vertiv reported a quarterly earnings per share of $0.95, exceeding analysts' estimates, with revenue of $2.64 billion, reflecting a 35.1% year-over-year growth.
• The company recently increased its dividend from $0.01 to $0.0375 per share, representing a dividend yield of 14.0%.

TD Asset Management Inc increased its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 65,836 shares of the company's stock after purchasing an additional 2,461 shares during the quarter. TD Asset Management Inc's holdings in Vertiv were worth $4,753,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ibex Wealth Advisors increased its position in shares of Vertiv by 10.5% during the 1st quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock valued at $5,324,000 after purchasing an additional 6,989 shares during the last quarter. Gallo Partners LP bought a new position in shares of Vertiv during the 4th quarter valued at approximately $1,826,000. Viking Fund Management LLC increased its position in shares of Vertiv by 123.5% during the 1st quarter. Viking Fund Management LLC now owns 38,000 shares of the company's stock valued at $2,744,000 after purchasing an additional 21,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Vertiv by 1.7% during the 4th 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. Finally, Outlook Wealth Advisors LLC bought a new position in shares of Vertiv during the 1st quarter valued at approximately $475,000. Institutional investors own 89.92% of the company's stock.

Vertiv Price Performance

VRT opened at $141.66 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.28 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $53.99 billion, a price-to-earnings ratio of 67.78, a PEG ratio of 1.36 and a beta of 1.77. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $155.84. The business's fifty day simple moving average is $122.46 and its 200-day simple moving average is $104.87.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, topping 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 return on equity of 51.64% and a net margin of 8.93%. The firm's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. On average, equities research analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. This is an increase from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 14.0%. Vertiv's dividend payout ratio (DPR) is currently 7.18%.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 5,500 shares of the company's 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 sale, the insider directly owned 18,847 shares in the company, valued at $1,777,837.51. This represents a 22.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 value of $5,059,801.89. Following the sale, the executive vice president owned 9,551 shares of the company's stock, 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. Corporate insiders own 2.63% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Cowen reissued a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Melius raised Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price objective on Vertiv from $127.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday. Oppenheimer set a $151.00 price objective on Vertiv and gave the company an "outperform" rating in a research report on Thursday. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Vertiv in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.06.

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.

Want to see what other hedge funds are holding VRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertiv Holdings Co. (NYSE:VRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.