Vertiv Holdings Co (NYSE:VRT) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 296.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,205 shares of the company’s stock after buying an additional 9,870 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vertiv were worth $634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Nordea Investment Management AB acquired a new stake in shares of Vertiv in the fourth quarter worth $1,040,000. Xponance Inc. increased its holdings in shares of Vertiv by 2.9% during the 4th quarter. Xponance Inc. now owns 14,984 shares of the company’s stock valued at $720,000 after purchasing an additional 426 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Vertiv by 58.8% in the 4th quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock valued at $26,312,000 after purchasing an additional 202,766 shares during the period. WT Asset Management Ltd purchased a new position in Vertiv in the fourth quarter valued at $24,486,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Vertiv by 24.7% during the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock worth $41,000 after acquiring an additional 170 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertiv

In related news, EVP Anders Karlborg sold 46,206 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $93.75, for a total value of $4,331,812.50. Following the completion of the sale, the executive vice president now directly owns 23,003 shares of the company’s stock, valued at approximately $2,156,531.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Vertiv news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction that occurred on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the transaction, the insider now directly owns 19,452 shares in the company, valued at approximately $1,836,074.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anders Karlborg sold 46,206 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total value of $4,331,812.50. Following the sale, the executive vice president now directly owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The disclosure for this sale can be found here. Insiders sold a total of 4,162,739 shares of company stock valued at $400,713,362 over the last ninety days. Insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

VRT has been the topic of a number of recent analyst reports. Bank of America increased their price target on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Citigroup boosted their price target on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Evercore ISI increased their price objective on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. The Goldman Sachs Group boosted their target price on shares of Vertiv from $103.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Mizuho raised their price target on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.11.

Vertiv Stock Performance

Shares of VRT opened at $91.71 on Wednesday. The stock has a market capitalization of $34.33 billion, a PE ratio of 88.18, a PEG ratio of 1.32 and a beta of 1.56. The stock has a 50-day simple moving average of $93.60 and a 200-day simple moving average of $73.78. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. Vertiv Holdings Co has a 1 year low of $23.07 and a 1 year high of $109.27.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, analysts predict that Vertiv Holdings Co will post 2.42 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Monday, June 17th will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, June 17th. This represents a $0.10 annualized dividend and a yield of 0.11%. Vertiv’s dividend payout ratio is currently 9.62%.

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.