Bank of Hawaii Increases Stake in Vertiv Holdings Co (NYSE:VRT)

Bank of Hawaii lifted its position in Vertiv Holdings Co (NYSE:VRT) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,355 shares of the company’s stock after acquiring an additional 2,933 shares during the quarter. Bank of Hawaii’s holdings in Vertiv were worth $3,120,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Clearbridge Investments LLC increased its stake in Vertiv by 15.4% in the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after purchasing an additional 340,639 shares during the period. Whittier Trust Co. grew its holdings in shares of Vertiv by 7.2% in the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after purchasing an additional 8,579 shares during the last quarter. Janney Capital Management LLC purchased a new position in Vertiv in the 3rd quarter worth about $8,403,000. Assenagon Asset Management S.A. lifted its holdings in Vertiv by 190.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after buying an additional 36,684 shares in the last quarter. Finally, Entropy Technologies LP boosted its position in Vertiv by 42.4% in the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after buying an additional 9,479 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,185 shares of company stock worth $10,074,936. Insiders own 5.01% of the company’s stock.

Vertiv Stock Down 0.9 %

Shares of Vertiv stock opened at $140.15 on Monday. 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 cap of $52.60 billion, a P/E ratio of 93.43, a PEG ratio of 1.44 and a beta of 1.58. The firm’s 50 day moving average price is $110.94 and its 200-day moving average price is $95.18. Vertiv Holdings Co has a 52-week low of $41.01 and a 52-week high of $145.67.

Vertiv (NYSE:VRT) last released 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 business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The business’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 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Analysts Set New Price Targets

Several research firms have recently weighed in on VRT. Bank of America lifted their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group started coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price for the company. The Goldman Sachs Group increased their price target on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $138.50.

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.