Raymond James Trust N.A. Increases Holdings in Vertiv Holdings Co (NYSE:VRT)

Raymond James Trust N.A. raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 123.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,833 shares of the company’s stock after acquiring an additional 3,218 shares during the quarter. Raymond James Trust N.A.’s holdings in Vertiv were worth $580,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its stake in Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after purchasing an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv in the 2nd quarter valued at $331,091,000. Swedbank AB grew its position in shares of Vertiv by 247.5% in the 2nd quarter. Swedbank AB now owns 674,493 shares of the company’s stock valued at $58,391,000 after buying an additional 480,394 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in Vertiv during the 3rd quarter worth $43,771,000. Finally, Generate Investment Management Ltd lifted its position in Vertiv by 180.8% in the third quarter. Generate Investment Management Ltd now owns 598,372 shares of the company’s stock valued at $59,532,000 after acquiring an additional 385,251 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Mizuho boosted their price objective on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Evercore ISI raised 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. Finally, UBS Group assumed coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target for the company. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Performance

Shares of VRT opened at $132.03 on Tuesday. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $145.67. The stock has a market capitalization of $49.56 billion, a P/E ratio of 88.02, a P/E/G ratio of 1.44 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The company’s fifty day moving average is $111.84 and its two-hundred day moving average is $95.42.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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 prior year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Insiders Place Their Bets

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Karsten Winther sold 44,924 shares of the business’s 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. This trade represents a 80.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,185 shares of company stock worth $10,074,936. 5.01% of the stock is owned by corporate insiders.

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.