First Horizon Advisors Inc. Buys 511 Shares of Vertiv Holdings Co (NYSE:VRT)

First Horizon Advisors Inc. lifted its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 16.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,638 shares of the company’s stock after purchasing an additional 511 shares during the quarter. First Horizon Advisors Inc.’s holdings in Vertiv were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Vertiv by 38.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 251,088 shares of the company’s stock valued at $21,737,000 after purchasing an additional 69,781 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Vertiv in the 2nd quarter worth approximately $838,000. Raymond James & Associates lifted its position in shares of Vertiv by 87.2% in the 2nd quarter. Raymond James & Associates now owns 542,739 shares of the company’s stock worth $46,985,000 after purchasing an additional 252,743 shares during the period. OFI Invest Asset Management acquired a new position in shares of Vertiv in the 2nd quarter worth approximately $34,000. Finally, Sumitomo Life Insurance Co. acquired a new position in shares of Vertiv in the 2nd quarter worth approximately $4,328,000. 89.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Oppenheimer upped their target price on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Bank of America boosted their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Evercore ISI reissued an “outperform” rating and issued a $105.00 price target on shares of Vertiv in a report on Thursday, August 15th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv has a consensus rating of “Buy” and a consensus price target of $96.22.

Insider Buying and Selling at Vertiv

In other Vertiv news, Director Doherty Philip O’ sold 1,089,669 shares of Vertiv stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $103.34, for a total transaction of $112,606,394.46. Following the completion of the sale, the director now directly owns 8,234,512 shares in the company, valued at $850,954,470.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.01% of the stock is currently owned by company insiders.

Vertiv Price Performance

Shares of Vertiv stock traded down $2.44 on Tuesday, reaching $76.44. The stock had a trading volume of 1,887,401 shares, compared to its average volume of 8,762,703. Vertiv Holdings Co has a 1 year low of $33.65 and a 1 year high of $109.27. The company has a market cap of $28.61 billion, a P/E ratio of 75.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58. The company has a current ratio of 1.36, a quick ratio of 0.98 and a debt-to-equity ratio of 1.90. The business’s 50 day moving average is $84.26 and its two-hundred day moving average is $82.62.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were given a dividend of $0.025 per share. The ex-dividend date was Monday, June 17th. This represents a $0.10 annualized dividend and a yield of 0.13%. Vertiv’s payout ratio is presently 9.62%.

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.