Vertiv Holdings Co. $VRT Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its stake in Vertiv Holdings Co. (NYSE:VRT) by 16.5% during the third quarter, Holdings Channel reports. The institutional investor owned 82,135 shares of the company’s stock after selling 16,285 shares during the quarter. Fifth Third Bancorp’s holdings in Vertiv were worth $19,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Cornerstone Planning Group LLC raised its position in Vertiv by 60.5% during the first quarter. Cornerstone Planning Group LLC now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 49 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $35,000. GoalVest Advisory LLC grew its stake in shares of Vertiv by 87.3% during the 2nd quarter. GoalVest Advisory LLC now owns 148 shares of the company’s stock worth $50,000 after purchasing an additional 69 shares during the period. Ravenstone Capital Management Inc. purchased a new position in shares of Vertiv during the 1st quarter valued at approximately $40,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Vertiv during the 1st quarter valued at approximately $41,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Top Vertiv Stories

Investors following VRT have been watching these stories:

• Positive Sentiment: Vertiv raised its annual dividend by 60%, from $0.25 to $0.40 per share. The next quarterly payment is $0.10 per share, payable December 17 to shareholders of record November 24—an indication of confidence in cash generation, though the dividend remains modest. Vertiv declares quarterly dividend
• Positive Sentiment: The company launched the PowerStation 3100 RPP, a power-distribution panel designed for AI and high-performance-computing racks above 100 kW. It supports 600–1,200 amps on one platform and is available in North America, giving Vertiv another product aimed at data-center demand. Vertiv introduces high-density remote power panel
• Negative Sentiment: Recent bearish commentary highlights Vertiv’s weak chart and suggests waiting for a substantially lower entry price. That reflects investor concern about the stock’s near-term momentum, despite the company’s product announcements and growth prospects. Vertiv: Good quarter, crushed chart

Insider Buying and Selling at Vertiv

In other news, Director Edward Monser sold 15,287 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $253.82, for a total value of $3,880,146.34. Following the transaction, the director owned 16,500 shares in the company, valued at $4,188,030. This trade represents a 48.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by company insiders.

Vertiv Stock Down 3.8%

VRT opened at $201.60 on Friday. Vertiv Holdings Co. has a twelve month low of $147.82 and a twelve month high of $379.93. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $231.31 and a 200 day moving average price of $270.23. The company has a market cap of $77.63 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 0.67 and a beta of 2.11.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.39. Vertiv had a net margin of 15.99% and a return on equity of 53.31%. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the company posted $1.24 EPS. Vertiv’s quarterly revenue was up 61.2% compared to the same quarter last year. Sell-side analysts expect that Vertiv Holdings Co. will post 7.17 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 24th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This is an increase from Vertiv’s previous quarterly dividend of $0.0625. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Vertiv’s payout ratio is currently 4.67%.

Analyst Ratings Changes

Several equities analysts recently issued reports on VRT shares. Glj Research decreased their target price on shares of Vertiv from $188.00 to $187.00 and set a “sell” rating for the company in a research note on Monday, November 2nd. JPMorgan Chase & Co. initiated coverage on shares of Vertiv in a research report on Wednesday. They set a “neutral” rating and a $240.00 price target on the stock. Loop Capital cut their price objective on shares of Vertiv from $500.00 to $400.00 and set a “buy” rating for the company in a report on Friday, July 31st. Bank of America decreased their price objective on shares of Vertiv from $440.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $320.00 target price on shares of Vertiv and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vertiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.70.

Vertiv Company Profile

Vertiv Holdings Co. (NYSE: VRT) designs, manufactures and services critical digital infrastructure used by data centers, communications networks and commercial and industrial facilities. Its offerings help customers maintain reliable power, cooling and operating conditions for technology systems. The company’s products and solutions include uninterruptible power supplies, power distribution equipment, thermal management systems, racks, integrated modular infrastructure, and monitoring and control software.