Swedbank AB Increases Stock Position in Vertiv Holdings Co (NYSE:VRT)

Swedbank AB lifted its position in Vertiv Holdings Co (NYSE:VRT - Free Report) by 23.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 830,996 shares of the company's stock after buying an additional 156,503 shares during the quarter. Swedbank AB owned approximately 0.22% of Vertiv worth $82,676,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Anchor Investment Management LLC purchased a new stake in shares of Vertiv in the second quarter worth about $26,000. Mather Group LLC. lifted its holdings in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company's stock worth $29,000 after buying an additional 200 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv in the third quarter worth about $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv in the third quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Vertiv in the second quarter worth about $34,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VRT shares. JPMorgan Chase & Co. raised their target price on shares of Vertiv from $124.00 to $132.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th. Evercore ISI raised their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Jefferies Financial Group started coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a "buy" rating and a $125.00 target price on the stock. Citigroup raised their target price on shares of Vertiv from $134.00 to $141.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Finally, UBS Group initiated coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a "buy" rating and a $155.00 target price on the stock. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $138.50.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,185 shares of company stock worth $10,074,936. Insiders own 5.01% of the company's stock.

Vertiv Trading Down 5.8 %

Shares of Vertiv stock traded down $8.12 on Monday, hitting $132.03. The stock had a trading volume of 10,631,690 shares, compared to its average volume of 8,215,077. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $145.67. The stock has a market cap of $49.56 billion, a price-to-earnings ratio of 88.02, a PEG ratio of 1.44 and a beta of 1.58. The stock's 50-day simple moving average is $111.84 and its two-hundred day simple moving average is $95.42.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter last year, the business earned $0.52 earnings per share. The business's revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This is a boost from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. Vertiv's dividend payout ratio (DPR) is currently 6.67%.

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.