Crossmark Global Holdings Inc. Raises Position in Vertiv Holdings Co (NYSE:VRT)

Crossmark Global Holdings Inc. increased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,950 shares of the company’s stock after buying an additional 156 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Vertiv were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the third quarter worth about $29,000. Anchor Investment Management LLC acquired a new stake in Vertiv in the 2nd quarter worth approximately $26,000. Global Trust Asset Management LLC acquired a new stake in Vertiv in the 3rd quarter worth approximately $30,000. Mather Group LLC. grew its position in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Vertiv during the 3rd quarter valued at approximately $36,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Stock Down 0.1 %

Shares of VRT opened at $120.87 on Monday. The stock’s 50-day moving average price is $105.37 and its 200-day moving average price is $93.71. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $45.37 billion, a price-to-earnings ratio of 80.58, a PEG ratio of 1.31 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $41.01 and a 52 week high of $130.30.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. Vertiv’s payout ratio is 6.67%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VRT shares. Mizuho lifted their price objective on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup lifted their price target on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Oppenheimer raised their price objective on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group dropped their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $125.40.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.