Vestcor Inc Grows Stake in Vertiv Holdings Co (NYSE:VRT)

Vestcor Inc lifted its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 155.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,734 shares of the company's stock after acquiring an additional 24,189 shares during the period. Vestcor Inc's holdings in Vertiv were worth $3,953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VRT. Sequoia Financial Advisors LLC bought a new stake in shares of Vertiv during the second quarter valued at approximately $375,000. Wedmont Private Capital acquired a new position in Vertiv during the second quarter worth $212,000. Great Valley Advisor Group Inc. bought a new position in shares of Vertiv in the second quarter valued at $1,480,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Vertiv by 140.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 45,316 shares of the company's stock valued at $3,923,000 after buying an additional 26,491 shares during the last quarter. Finally, Oak Ridge Investments LLC bought a new stake in shares of Vertiv during the second quarter worth about $361,000. 89.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Jan Van Dokkum sold 38,647 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the sale, the director now directly owns 25,000 shares in the company, valued at approximately $3,409,750. The trade was a 60.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 3,425 shares of the company's stock, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VRT. TD Cowen lifted their price target on Vertiv from $115.00 to $141.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Bank of America lifted their target price on Vertiv from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. UBS Group started coverage on Vertiv in a research report on Wednesday, November 13th. They issued a "buy" rating and a $155.00 price target for the company. The Goldman Sachs Group upped their target price on shares of Vertiv from $126.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv currently has an average rating of "Buy" and a consensus target price of $139.90.

Vertiv Stock Performance

VRT stock traded up $4.14 during mid-day trading on Wednesday, hitting $125.84. The company had a trading volume of 4,253,883 shares, compared to its average volume of 8,137,964. 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 firm has a market cap of $47.23 billion, a PE ratio of 83.37, a price-to-earnings-growth ratio of 1.38 and a beta of 1.61. Vertiv Holdings Co has a 12 month low of $44.31 and a 12 month high of $145.67. The stock's fifty day moving average price is $119.12 and its two-hundred day moving average price is $97.69.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. Vertiv's revenue was up 19.0% on a year-over-year basis. On average, analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal 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 dividend of $0.0375 per share. This is an increase from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. Vertiv's dividend payout ratio is presently 6.67%.

Vertiv Company 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.