Hsbc Holdings PLC grew its position in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) by 34.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 374,560 shares of the company’s stock after buying an additional 95,507 shares during the quarter. Hsbc Holdings PLC owned 0.10% of Vertiv worth $26,945,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC increased its stake in shares of Vertiv by 3.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company’s stock worth $367,000 after purchasing an additional 97 shares during the last quarter. Utah Retirement Systems grew its stake in Vertiv by 0.3% in the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company’s stock valued at $4,465,000 after buying an additional 100 shares in the last quarter. Wahed Invest LLC grew its stake in Vertiv by 1.2% in the 4th quarter. Wahed Invest LLC now owns 8,798 shares of the company’s stock valued at $1,000,000 after buying an additional 105 shares in the last quarter. Ellevest Inc. grew its stake in Vertiv by 5.9% in the 4th quarter. Ellevest Inc. now owns 2,393 shares of the company’s stock valued at $272,000 after buying an additional 133 shares in the last quarter. Finally, Commerce Bank grew its stake in Vertiv by 0.7% in the 1st quarter. Commerce Bank now owns 20,739 shares of the company’s stock valued at $1,497,000 after buying an additional 134 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.
Vertiv Stock Performance
NYSE VRT opened at $125.9970 on Friday. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.35 and a current ratio of 1.74. The company has a market capitalization of $48.11 billion, a P/E ratio of 60.29, a P/E/G ratio of 1.12 and a beta of 1.77. The company has a fifty day moving average of $129.89 and a 200-day moving average of $105.74.
Vertiv Increases Dividend
The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. This represents a dividend yield of 14.0%. This is a positive change from Vertiv’s previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. Vertiv’s payout ratio is currently 7.18%.
Insider Activity
In other news, insider Karsten Winther sold 41,654 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the completion of the transaction, the insider directly owned 18,848 shares of the company’s stock, valued at approximately $2,529,590.08. This represents a 68.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the transaction, the executive vice president owned 9,551 shares in the company, valued at $1,106,292.33. This represents a 82.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on VRT shares. Bank of America lifted their price objective on shares of Vertiv from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Barclays set a $128.00 price objective on shares of Vertiv and gave the company an “equal weight” rating in a research note on Thursday, July 31st. UBS Group lifted their price objective on shares of Vertiv from $135.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Evercore ISI reiterated an “outperform” rating on shares of Vertiv in a research note on Thursday, July 10th. Finally, Melius upgraded shares of Vertiv from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.
Read Our Latest Stock Analysis on VRT
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.
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