Zurcher Kantonalbank Zurich Cantonalbank Sells 43,839 Shares of Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Zurcher Kantonalbank reduced its holdings in Vertiv Holdings by 4.8%, now owning approximately $62.95 million worth of the company's stock.
• Despite the cut, a majority of the stock, around 89.92%, is still owned by institutional investors, indicating strong institutional interest in Vertiv.
• Vertiv's stock recently opened at $137.52, with analysts maintaining a consensus average rating of "Buy" and a target price of $136.76.

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 871,936 shares of the company's stock after selling 43,839 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.23% of Vertiv worth $62,954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Schroder Investment Management Group increased its holdings 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 acquiring an additional 569,722 shares during the last quarter. Bedell Frazier Investment Counselling LLC purchased a new position in shares of Vertiv in the fourth quarter worth about $415,000. Ibex Wealth Advisors raised its position in shares of Vertiv by 10.5% in the first quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock valued at $5,324,000 after purchasing an additional 6,989 shares during the period. Gallo Partners LP purchased a new stake in shares of Vertiv during the 4th quarter valued at approximately $1,826,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Vertiv in the 4th quarter valued at approximately $597,379,000. 89.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 transaction of $5,059,801.89. Following the sale, the executive vice president owned 9,551 shares in the company, valued at approximately $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 is accessible through the SEC website. Also, insider Karsten Winther sold 5,500 shares of the business's 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 sale, the insider owned 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.01% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on VRT. Roth Mkm assumed coverage on Vertiv in a report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price target for the company. Wolfe Research reissued an "outperform" rating and issued a $155.00 price target on shares of Vertiv in a report on Thursday, July 10th. Wall Street Zen raised shares of Vertiv from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Mizuho increased their price target on shares of Vertiv from $125.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, UBS Group reissued a "buy" rating on shares of Vertiv in a report on Friday, July 11th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $137.89.

Vertiv Trading Up 0.8%

Shares of NYSE VRT traded up $1.18 during mid-day trading on Wednesday, hitting $143.88. The stock had a trading volume of 12,646,908 shares, compared to its average volume of 9,485,685. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84. The business has a 50 day moving average price of $120.06 and a two-hundred day moving average price of $104.35. The firm has a market cap of $54.83 billion, a P/E ratio of 83.45, a price-to-earnings-growth ratio of 1.42 and a beta of 1.75.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.83 by $0.12. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. The firm's revenue for the quarter was up 35.1% on a year-over-year basis. On average, equities analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This is an increase from Vertiv's previous dividend of $0.01. This represents a yield of 0.14%. The ex-dividend date was Monday, June 16th. Vertiv's payout ratio is presently 8.72%.

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.