Central Pacific Bank Trust Division Buys 5,355 Shares of Vertiv Holdings Co (NYSE:VRT)

Central Pacific Bank Trust Division increased its position in Vertiv Holdings Co (NYSE:VRT) by 54.2% in the third quarter, Holdings Channel.com reports. The fund owned 15,229 shares of the company’s stock after purchasing an additional 5,355 shares during the period. Central Pacific Bank Trust Division’s holdings in Vertiv were worth $1,515,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Anchor Investment Management LLC purchased a new position in shares of Vertiv during the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. lifted its position in Vertiv by 79.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in Vertiv during the first quarter valued at about $27,000. Mather Group LLC. grew its holdings in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Vertiv in the first quarter worth about $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Vertiv Price Performance

VRT opened at $102.30 on Thursday. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $109.27. The stock has a market cap of $38.30 billion, a P/E ratio of 98.37, a PEG ratio of 1.26 and a beta of 1.58. The business has a fifty day moving average of $81.65 and a 200 day moving average of $86.88. 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 posted 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 the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. As a group, sell-side analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.10%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

Vertiv 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.