Central Pacific Bank Trust Division Reduces Stock Position in Vertiv Holdings Co (NYSE:VRT)

Central Pacific Bank Trust Division trimmed its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 7.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,048 shares of the company’s stock after selling 1,181 shares during the period. Central Pacific Bank Trust Division’s holdings in Vertiv were worth $1,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VRT. State Street Corp lifted its stake in Vertiv by 4.2% during the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after purchasing an additional 308,704 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Vertiv by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after buying an additional 408,054 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after buying an additional 4,558,306 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after buying an additional 2,860,181 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Vertiv during the 2nd quarter worth $331,091,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. TD Cowen lifted their price target on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup raised their target price on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Jefferies Financial Group initiated coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Barclays initiated coverage on shares of Vertiv in a research note on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.09.

Vertiv Price Performance

NYSE:VRT traded up $7.33 during trading hours on Friday, hitting $125.63. The company’s stock had a trading volume of 4,001,274 shares, compared to its average volume of 4,268,038. Vertiv Holdings Co has a 52-week low of $45.09 and a 52-week high of $145.67. 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 business’s 50-day moving average is $122.55 and its two-hundred day moving average is $100.43. The company has a market capitalization of $47.15 billion, a PE ratio of 83.75, a PEG ratio of 1.29 and a beta of 1.61.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 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 quarter last year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were issued a $0.0375 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Vertiv Company 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.