Vertiv Holdings Co. $VRT Shares Acquired by Truist Financial Corp

Truist Financial Corp boosted its holdings in Vertiv Holdings Co. (NYSE:VRT) by 11.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,769 shares of the company’s stock after acquiring an additional 6,577 shares during the period. Truist Financial Corp’s holdings in Vertiv were worth $9,771,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Abundance Wealth Counselors lifted its holdings in Vertiv by 313.7% during the 3rd quarter. Abundance Wealth Counselors now owns 10,165 shares of the company’s stock worth $1,533,000 after buying an additional 7,708 shares during the last quarter. Union Bancaire Privee UBP SA raised its position in shares of Vertiv by 35.5% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 272,608 shares of the company’s stock worth $41,126,000 after acquiring an additional 71,361 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in Vertiv by 5.5% during the third quarter. KLP Kapitalforvaltning AS now owns 143,100 shares of the company’s stock worth $21,588,000 after purchasing an additional 7,400 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Vertiv by 100.1% in the second quarter. Nordea Investment Management AB now owns 3,246,769 shares of the company’s stock valued at $415,132,000 after purchasing an additional 1,624,456 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Vertiv by 134.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 291,036 shares of the company’s stock valued at $37,372,000 after purchasing an additional 167,152 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Trading Down 4.5%

Shares of Vertiv stock opened at $186.24 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.43 and a current ratio of 1.83. The company has a market capitalization of $71.21 billion, a P/E ratio of 70.28, a PEG ratio of 1.14 and a beta of 2.08. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $202.45. The company’s fifty day moving average is $173.20 and its two-hundred day moving average is $159.35.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, November 25th were given a $0.0625 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, November 25th. This represents a $0.25 annualized dividend and a yield of 0.1%. Vertiv’s payout ratio is presently 9.43%.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 5,501 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $170.48, for a total transaction of $937,810.48. Following the completion of the sale, the executive vice president directly owned 4,050 shares of the company’s stock, valued at $690,444. This represents a 57.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on VRT shares. Roth Mkm restated a “buy” rating and set a $195.00 price objective (up previously from $162.00) on shares of Vertiv in a research report on Tuesday, October 21st. Morgan Stanley lifted their price target on shares of Vertiv from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Vertiv in a research report on Thursday, January 15th. Weiss Ratings lowered Vertiv from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Evercore ISI lifted their target price on Vertiv from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $187.89.

Vertiv Company Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.