Whittier Trust Co. Grows Stock Position in Vertiv Holdings Co (NYSE:VRT)

Whittier Trust Co. lifted its stake in Vertiv Holdings Co (NYSE:VRT) by 47.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,631 shares of the company’s stock after buying an additional 38,401 shares during the period. Whittier Trust Co.’s holdings in Vertiv were worth $10,269,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. HB Wealth Management LLC purchased a new position in shares of Vertiv in the second quarter worth about $224,000. Encompass More Asset Management purchased a new position in shares of Vertiv in the second quarter worth about $216,000. MWA Asset Management purchased a new position in shares of Vertiv in the second quarter worth about $332,000. AustralianSuper Pty Ltd bought a new stake in shares of Vertiv in the second quarter worth about $698,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Vertiv by 116.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 47,016 shares of the company’s stock worth $4,070,000 after purchasing an additional 25,266 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VRT shares. The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a research note on Thursday, August 15th. Bank of America raised their target price on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. TD Cowen raised their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $96.22.

Vertiv Stock Up 1.8 %

Shares of VRT traded up $1.48 during mid-day trading on Thursday, reaching $82.00. The company had a trading volume of 3,230,320 shares, compared to its average volume of 8,635,131. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.98 and a current ratio of 1.36. The firm has a 50-day moving average price of $82.30 and a 200 day moving average price of $83.30. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The company has a market capitalization of $30.70 billion, a price-to-earnings ratio of 78.97, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share 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 company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. Vertiv’s dividend payout ratio is presently 9.62%.

About Vertiv

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.