First Horizon Advisors Inc. Grows Stake in Vertiv Holdings Co (NYSE:VRT)

First Horizon Advisors Inc. boosted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 32.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,804 shares of the company’s stock after purchasing an additional 1,166 shares during the quarter. First Horizon Advisors Inc.’s holdings in Vertiv were worth $478,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in shares of Vertiv during the second quarter worth $26,000. Mather Group LLC. boosted its holdings in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Vertiv during the third quarter valued at about $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv in the third quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new position in Vertiv during the second quarter valued at approximately $34,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Up 3.1 %

VRT opened at $141.75 on Friday. The company has a fifty day moving average of $109.85 and a two-hundred day moving average of $94.90. The stock has a market capitalization of $53.20 billion, a price-to-earnings ratio of 94.50, a PEG ratio of 1.53 and a beta of 1.58. Vertiv Holdings Co has a fifty-two week low of $41.01 and a fifty-two 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.

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

Vertiv Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Citigroup boosted their target price on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen increased their price target on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday. Bank of America lifted their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $138.50.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of the firm’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 transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.01% of the company’s stock.

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.