Bokf Na Lowers Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Bokf Na trimmed its position in shares of Vertiv Holdings Co (NYSE:VRT) by 88.9% in the second quarter, HoldingsChannel.com reports. The fund owned 8,835 shares of the company’s stock after selling 70,541 shares during the period. Bokf Na’s holdings in Vertiv were worth $765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after buying an additional 9,870 shares during the period. California State Teachers Retirement System boosted 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 buying an additional 202,766 shares during the period. Williamson Legacy Group LLC purchased a new position in shares of Vertiv in the 4th quarter valued at about $1,645,000. Quadrant Capital Group LLC boosted its stake in shares of Vertiv by 24.7% in the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after buying an additional 170 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Vertiv by 1.3% in the 1st quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock valued at $88,628,000 after buying an additional 14,100 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Trading Down 1.2 %

VRT opened at $85.76 on Monday. The firm has a market cap of $32.10 billion, a price-to-earnings ratio of 82.46, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The business’s 50 day moving average is $79.75 and its two-hundred day moving average is $84.77. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Tuesday, September 17th. Vertiv’s payout ratio is currently 9.62%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VRT. The Goldman Sachs Group decreased their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Finally, TD Cowen raised their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $102.13.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.01% of the company’s stock.

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.