TIAA Trust National Association Has $10.35 Million Stock Holdings in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• TIAA Trust National Association significantly increased its stake in Vertiv Holdings Co. by 82.3%, bringing its holdings to approximately $10.35 million after acquiring 64,746 additional shares.
• Vertiv recently announced a dividend increase to $0.0375 per share, reflecting a yield of 14.0%, which showcases the company’s commitment to returning value to its shareholders.
• Vertiv's latest quarterly earnings report showed a substantial increase in revenue, with earnings per share of $0.95, exceeding estimates and a year-over-year revenue growth of 35.1%.

TIAA Trust National Association lifted its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 82.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,399 shares of the company's stock after acquiring an additional 64,746 shares during the quarter. TIAA Trust National Association's holdings in Vertiv were worth $10,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ibex Wealth Advisors increased its stake in shares of Vertiv by 10.5% in the first quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock worth $5,324,000 after acquiring an additional 6,989 shares during the last quarter. Gallo Partners LP acquired a new position in shares of Vertiv in the fourth quarter worth $1,826,000. Viking Fund Management LLC increased its stake in shares of Vertiv by 123.5% in the first quarter. Viking Fund Management LLC now owns 38,000 shares of the company's stock worth $2,744,000 after acquiring an additional 21,000 shares during the last quarter. Outlook Wealth Advisors LLC acquired a new position in shares of Vertiv in the first quarter worth $475,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Vertiv in the fourth quarter worth $11,400,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Trading Down 2.7%

Shares of NYSE:VRT opened at $141.66 on Friday. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84. The company has a market cap of $53.99 billion, a P/E ratio of 67.78, a P/E/G ratio of 1.32 and a beta of 1.77. The stock's 50-day moving average is $122.46 and its 200-day moving average is $104.68. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.28 and a current ratio of 1.74.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 EPS 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 firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. The company's revenue for the quarter was up 35.1% on a year-over-year basis. Equities research analysts predict that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on VRT shares. Bank of America increased their target price on shares of Vertiv from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. KGI Securities started coverage on shares of Vertiv in a research report on Thursday, April 24th. They set a "hold" rating on the stock. Cowen reissued a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. The Goldman Sachs Group reissued a "buy" rating on shares of Vertiv in a research report on Friday, July 11th. Finally, Roth Mkm started coverage on shares of Vertiv in a research report on Tuesday, April 8th. They set a "buy" rating and a $75.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Vertiv has an average rating of "Moderate Buy" and a consensus price target of $144.06.

Insider Buying and Selling at Vertiv

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction 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 sale, the executive vice president owned 9,551 shares of the company's stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Karsten Winther sold 5,500 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider owned 18,847 shares of the company's stock, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by company insiders.

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.

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