Truist Financial Corp Raises Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Truist Financial Corp raised its stake in Vertiv Holdings Co (NYSE:VRT) by 94.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,752 shares of the company’s stock after purchasing an additional 35,286 shares during the period. Truist Financial Corp’s holdings in Vertiv were worth $3,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in VRT. State of New Jersey Common Pension Fund D grew its position in shares of Vertiv by 11.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 197,898 shares of the company’s stock worth $9,505,000 after buying an additional 20,801 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in Vertiv in the fourth quarter worth $867,000. Hartline Investment Corp acquired a new position in shares of Vertiv during the fourth quarter worth $6,476,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Vertiv by 68.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 14,583 shares of the company’s stock valued at $700,000 after purchasing an additional 5,909 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its position in shares of Vertiv by 252.0% in the 4th quarter. Wolverine Asset Management LLC now owns 44,000 shares of the company’s stock worth $2,113,000 after purchasing an additional 31,500 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Vertiv Stock Up 4.6 %

NYSE:VRT opened at $97.26 on Tuesday. The firm has a market capitalization of $36.41 billion, a P/E ratio of 93.52, a PEG ratio of 1.41 and a beta of 1.55. The company’s fifty day moving average price is $80.18 and its 200-day moving average price is $59.96. Vertiv Holdings Co has a 1-year low of $14.68 and a 1-year high of $97.28. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $0.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Vertiv Holdings Co will post 2.42 EPS for the current year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 annualized dividend and a yield of 0.10%. Vertiv’s dividend payout ratio is presently 9.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Mizuho upped their target price on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Bank of America upped their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday, March 18th. Evercore ISI lifted their target price on shares of Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Citigroup raised 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.11.

Insider Transactions at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Vertiv news, Director Doherty Philip O’ sold 2,511,295 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $93.64, for a total value of $235,157,663.80. Following the sale, the director now directly owns 9,324,181 shares of the company’s stock, valued at $873,116,308.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. Insiders have sold 3,362,790 shares of company stock valued at $306,451,347 in the last 90 days. 5.62% of the stock is currently owned by company 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.