Whittier Trust Co. Has $9.80 Million Stake in Vertiv Holdings Co. (NYSE:VRT)

Whittier Trust Co. increased its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,773 shares of the company's stock after purchasing an additional 2,422 shares during the quarter. Whittier Trust Co.'s holdings in Vertiv were worth $9,803,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Vertiv during the first quarter worth approximately $4,865,000. Leo Wealth LLC purchased a new position in Vertiv during the 1st quarter worth $324,000. Dakota Wealth Management raised its position in Vertiv by 25.1% during the 1st quarter. Dakota Wealth Management now owns 40,079 shares of the company's stock worth $2,894,000 after buying an additional 8,048 shares during the last quarter. LJI Wealth Management LLC purchased a new position in Vertiv during the 1st quarter worth $363,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in Vertiv by 2,243.3% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 219,896 shares of the company's stock worth $15,876,000 after buying an additional 210,512 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VRT. Melius raised Vertiv from a "hold" rating to a "buy" rating and set a $165.00 target price for the company in a research note on Tuesday, July 8th. Barclays increased their price objective on Vertiv from $90.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertiv in a research report on Friday, July 11th. Melius Research upgraded shares of Vertiv from a "hold" rating to a "strong-buy" rating and increased their price target for the company from $134.00 to $165.00 in a report on Tuesday, July 8th. Finally, Morgan Stanley cut their price target on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $135.65.

Vertiv Stock Down 1.6%

Vertiv stock traded down $1.98 during trading hours on Wednesday, hitting $125.40. The company had a trading volume of 6,036,798 shares, compared to its average volume of 8,598,169. The firm has a market capitalization of $47.79 billion, a P/E ratio of 72.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.75. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. The firm's fifty day moving average is $114.14 and its 200-day moving average is $103.78. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The business's revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. On average, research analysts forecast 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 paid a $0.0375 dividend. The ex-dividend date was Monday, June 16th. This is a positive change from Vertiv's previous dividend of $0.01. This represents a yield of 0.14%. Vertiv's dividend payout ratio (DPR) is presently 8.72%.

Insiders Place Their Bets

In related news, EVP Stephen Liang sold 43,683 shares of the firm'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 transaction, the executive vice president directly owned 9,551 shares in the company, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Karsten Winther sold 5,500 shares of the firm'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 sale, the insider directly 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 disclosure for this sale can be found here. Company insiders own 2.63% of the company's stock.

About Vertiv

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.