PNC Financial Services Group Inc. Boosts Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

PNC Financial Services Group Inc. raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 10.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 28,066 shares of the company’s stock after purchasing an additional 2,604 shares during the period. PNC Financial Services Group Inc.’s holdings in Vertiv were worth $2,792,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Vertiv in the 3rd quarter worth approximately $869,000. Banque Cantonale Vaudoise grew its position in shares of Vertiv by 38.3% in the 3rd quarter. Banque Cantonale Vaudoise now owns 29,503 shares of the company’s stock worth $2,935,000 after buying an additional 8,168 shares during the last quarter. Wrapmanager Inc. purchased a new position in shares of Vertiv in the 3rd quarter worth approximately $232,000. Meeder Asset Management Inc. grew its position in shares of Vertiv by 1,441.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 42,354 shares of the company’s stock worth $4,214,000 after buying an additional 39,607 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Vertiv in the 3rd quarter worth approximately $409,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of NYSE VRT opened at $132.03 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The company has a 50 day simple moving average of $111.84 and a two-hundred day simple moving average of $95.42. Vertiv Holdings Co has a 12 month low of $41.01 and a 12 month high of $145.67. The stock has a market cap of $49.56 billion, a price-to-earnings ratio of 88.02, a PEG ratio of 1.44 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the business posted $0.52 EPS. The business’s revenue was up 19.0% compared to the same quarter last year. As a group, analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s payout ratio is currently 6.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI boosted their target price on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. UBS Group began coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus target price of $138.50.

Insider Activity at Vertiv

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now owns 3,425 shares of the company’s stock, valued at $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,185 shares of company stock worth $10,074,936 in the last three months. Company insiders own 5.01% of the company’s stock.

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.