First American Bank Acquires 7,732 Shares of Vertiv Holdings Co. (NYSE:VRT)

First American Bank grew its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 12.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,114 shares of the company's stock after acquiring an additional 7,732 shares during the period. First American Bank's holdings in Vertiv were worth $5,062,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sound View Wealth Advisors Group LLC bought a new position in shares of Vertiv in the fourth quarter valued at approximately $1,218,000. Schroder Investment Management Group raised its position in Vertiv by 95.3% in the 4th quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company's stock worth $135,621,000 after purchasing an additional 569,722 shares during the last quarter. Bedell Frazier Investment Counselling LLC bought a new position in Vertiv in the 4th quarter worth approximately $415,000. Charles Schwab Investment Management Inc. raised its position in Vertiv by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,111 shares of the company's stock worth $198,376,000 after purchasing an additional 45,917 shares during the last quarter. Finally, Ibex Wealth Advisors raised its position in Vertiv by 10.5% in the 1st quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock worth $5,324,000 after purchasing an additional 6,989 shares during the last quarter. Institutional investors own 89.92% of the company's stock.

Vertiv Trading Down 0.3%

Shares of VRT stock traded down $0.39 on Friday, hitting $118.69. The stock had a trading volume of 6,599,208 shares, compared to its average volume of 8,645,755. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The firm has a market cap of $45.23 billion, a P/E ratio of 69.01, a PEG ratio of 1.19 and a beta of 1.73. 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 company has a fifty day moving average price of $99.40 and a two-hundred day moving average price of $103.49.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. As a group, analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 17th will be paid a $0.0375 dividend. The ex-dividend date of this dividend is 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 is presently 8.72%.

Insider Buying and Selling

In related news, EVP Stephen Liang sold 43,683 shares of the company'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 completion of the transaction, the executive vice president now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the insider now directly owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. The trade was 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.

Wall Street Analysts Forecast Growth

VRT has been the subject of several research analyst reports. Barclays dropped their price objective on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Evercore ISI restated an "outperform" rating and issued a $150.00 price objective (up previously from $100.00) on shares of Vertiv in a research report on Tuesday, May 27th. Royal Bank Of Canada initiated coverage on shares of Vertiv in a research report on Friday, March 7th. They issued an "outperform" rating and a $121.00 price objective for the company. Citigroup boosted their price objective on shares of Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Vertiv from $106.00 to $122.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Vertiv has a consensus rating of "Moderate Buy" and an average price target of $126.69.

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.