Vestcor Inc Has $1.61 Million Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Vestcor Inc increased its stock holdings in Vertiv Holdings Co. by 43.9%, acquiring an additional 6,795 shares, bringing its total to 22,269 shares valued at approximately $1.61 million.
• Several institutional investors have also raised their stakes in Vertiv, with notable increases including Alliancebernstein L.P. which raised holdings by 73.7% in the fourth quarter.
• Vertiv announced a new dividend of $0.0375 per share, reflecting a positive change from its previous dividend of $0.01, and representing a yield of 14.0%.

Vestcor Inc grew its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 43.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,269 shares of the company's stock after buying an additional 6,795 shares during the period. Vestcor Inc's holdings in Vertiv were worth $1,608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GW&K Investment Management LLC acquired a new position in Vertiv in the 1st quarter worth $26,000. North Star Investment Management Corp. boosted its stake in Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after purchasing an additional 412 shares during the period. Sachetta LLC boosted its stake in Vertiv by 242.0% in the 1st quarter. Sachetta LLC now owns 448 shares of the company's stock worth $32,000 after purchasing an additional 317 shares during the period. Colonial Trust Co SC boosted its stake in Vertiv by 211.9% in the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 214 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in Vertiv in the 4th quarter worth $37,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Analyst Ratings Changes

VRT has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertiv in a research note on Friday, July 11th. Melius Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating and boosted their price target for the stock from $134.00 to $165.00 in a research report on Tuesday, July 8th. Oppenheimer set a $151.00 price objective on Vertiv and gave the company an "outperform" rating in a report on Thursday. Melius raised Vertiv from a "hold" rating to a "buy" rating and set a $165.00 target price on the stock in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada upped their target price on Vertiv from $143.00 to $162.00 and gave the stock an "outperform" rating in a report on Thursday. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.06.

Vertiv Stock Performance

Vertiv stock traded down $3.94 during trading hours on Friday, hitting $141.66. The company had a trading volume of 10,317,134 shares, compared to its average volume of 8,340,559. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The firm has a 50-day moving average of $122.46 and a 200 day moving average of $104.87. The firm has a market cap of $53.99 billion, a PE ratio of 67.78, a PEG ratio of 1.36 and a beta of 1.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.28.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.12. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. On average, sell-side analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The company 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 positive change from Vertiv's previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. Vertiv's payout ratio is 7.18%.

Insider Buying and Selling

In related news, insider Karsten Winther sold 5,500 shares of Vertiv 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction that occurred on Friday, June 6th. The shares were 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 directly owned 9,551 shares in the company, 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. Company insiders own 2.63% of the company's stock.

Vertiv 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.