Vertiv Holdings Co (NYSE:VRT) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division cut its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,048 shares of the company’s stock after selling 1,181 shares during the period. Central Pacific Bank Trust Division’s holdings in Vertiv were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Everence Capital Management Inc. acquired a new position in shares of Vertiv in the 4th quarter valued at about $862,000. GAMMA Investing LLC lifted its holdings in Vertiv by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 2,857 shares of the company’s stock valued at $325,000 after acquiring an additional 953 shares during the period. Versant Capital Management Inc boosted its position in Vertiv by 25.5% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the company’s stock worth $85,000 after purchasing an additional 152 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Vertiv by 430.5% during the 3rd quarter. Principal Financial Group Inc. now owns 165,557 shares of the company’s stock worth $16,471,000 after purchasing an additional 134,349 shares during the period. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Vertiv by 31.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 843,058 shares of the company’s stock valued at $83,876,000 after purchasing an additional 202,576 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,527 shares of company stock valued at $23,105,682. Corporate insiders own 5.01% of the company’s stock.

Vertiv Trading Up 6.2 %

VRT stock traded up $7.33 during mid-day trading on Friday, hitting $125.63. 4,001,274 shares of the company were exchanged, compared to its average volume of 4,268,038. The business has a fifty day simple moving average of $122.55 and a 200-day simple moving average of $100.43. The firm has a market capitalization of $47.15 billion, a P/E ratio of 83.75, a PEG ratio of 1.29 and a beta of 1.61. Vertiv Holdings Co has a 12-month low of $45.09 and a 12-month high of $145.67. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating 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 firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.12%. Vertiv’s dividend payout ratio is presently 6.67%.

Analyst Ratings Changes

A number of analysts recently issued reports on VRT shares. Oppenheimer increased their price target on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Mizuho increased their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Citigroup increased their price target on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Vertiv presently has a consensus rating of “Moderate Buy” and an average price target of $140.09.

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.