Vertiv Holdings Co. (NYSE:VRT) Shares Bought by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG increased its stake in Vertiv Holdings Co. by 23.3%, owning 433,248 shares worth approximately $32.17 million.
• Vertiv reported a 35.1% year-over-year revenue increase at $2.64 billion and earnings per share of $0.95, exceeding analyst expectations of $0.83.
• The company announced a recent dividend increase, raising it to $0.0375 per share, which equates to a 14.0% yield.

Raiffeisen Bank International AG lifted its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 23.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 433,248 shares of the company's stock after purchasing an additional 81,848 shares during the quarter. Raiffeisen Bank International AG owned about 0.11% of Vertiv worth $32,169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in VRT. Northern Trust Corp increased its position in Vertiv by 21.9% in the 4th quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock valued at $308,251,000 after acquiring an additional 487,909 shares during the period. Renaissance Technologies LLC increased its position in Vertiv by 15.8% in the 4th quarter. Renaissance Technologies LLC now owns 2,404,712 shares of the company's stock valued at $273,199,000 after acquiring an additional 327,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Vertiv by 54.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock valued at $263,000,000 after acquiring an additional 812,389 shares during the period. Price T Rowe Associates Inc. MD increased its position in Vertiv by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,112,929 shares of the company's stock valued at $240,051,000 after acquiring an additional 77,859 shares during the period. Finally, New South Capital Management Inc. increased its position in Vertiv by 1.7% in the 1st quarter. New South Capital Management Inc. now owns 2,110,392 shares of the company's stock valued at $152,370,000 after acquiring an additional 34,643 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Performance

Shares of VRT traded down $3.94 on Friday, reaching $141.66. The company's stock had a trading volume of 10,317,134 shares, compared to its average volume of 8,891,308. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.35. The stock has a market capitalization of $53.99 billion, a P/E ratio of 67.78, a PEG ratio of 1.25 and a beta of 1.77. The stock's 50 day simple moving average is $122.46 and its two-hundred day simple moving average is $104.48. 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 released its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.12. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. Research analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VRT. KGI Securities began coverage on Vertiv in a research note on Thursday, April 24th. They set a "hold" rating for the company. Roth Capital increased their price target on Vertiv from $100.00 to $157.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Melius Research raised 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 research note on Tuesday, July 8th. Mizuho increased their price target on Vertiv from $125.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Wolfe Research reissued an "outperform" rating and set a $155.00 price objective on shares of Vertiv in a research note on Thursday, July 10th. Three investment 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 data from MarketBeat, Vertiv presently has a consensus rating of "Moderate Buy" and an average target price of $144.06.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 18,847 shares of the company's stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president 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 disclosure for this sale can be found here. 5.01% of the stock is owned by corporate insiders.

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.