State Street Corp Has $759.61 Million Position in Vertiv Holdings Co (NYSE:VRT)

State Street Corp boosted its holdings in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,635,081 shares of the company's stock after buying an additional 308,704 shares during the quarter. State Street Corp owned approximately 2.03% of Vertiv worth $759,614,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. ORG Partners LLC grew its position in shares of Vertiv by 25.1% in the third quarter. ORG Partners LLC now owns 458 shares of the company's stock valued at $46,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP grew its position in shares of Vertiv by 18.6% in the third quarter. Allworth Financial LP now owns 638 shares of the company's stock valued at $63,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. grew its position in shares of Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company's stock valued at $1,305,000 after purchasing an additional 112 shares during the last quarter. Nvwm LLC grew its position in shares of Vertiv by 1.3% in the third quarter. Nvwm LLC now owns 10,035 shares of the company's stock valued at $998,000 after purchasing an additional 124 shares during the last quarter. Finally, Callan Family Office LLC grew its position in shares of Vertiv by 0.9% in the third quarter. Callan Family Office LLC now owns 14,989 shares of the company's stock valued at $1,491,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Vertiv Price Performance

Shares of VRT traded down $7.64 during trading hours on Monday, reaching $126.21. The stock had a trading volume of 8,954,103 shares, compared to its average volume of 8,160,417. Vertiv Holdings Co has a 12 month low of $44.31 and a 12 month high of $145.67. The stock has a market capitalization of $47.37 billion, a PE ratio of 84.14, a PEG ratio of 1.38 and a beta of 1.61. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The company's 50-day moving average is $118.10 and its two-hundred day moving average is $97.40.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the prior year, the company earned $0.52 EPS. Vertiv's revenue was up 19.0% compared to the same quarter last year. Research analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv's dividend payout ratio is presently 6.67%.

Insider Activity

In related news, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares in the company, valued at $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now owns 19,551 shares of the company's stock, valued at $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,527 shares of company stock worth $23,105,682. Insiders own 5.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VRT shares. Citigroup upped their target price on Vertiv from $141.00 to $155.00 and gave the company a "buy" rating in a research report on Monday. Mizuho boosted their price target on Vertiv from $125.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Evercore ISI boosted their price target on Vertiv from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Oppenheimer boosted their price target on Vertiv from $121.00 to $131.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price target on Vertiv from $124.00 to $132.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has an average rating of "Buy" and an average price target of $139.90.

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.