Truist Financial Corp Sells 1,636 Shares of Vertiv Holdings Co (NYSE:VRT)

Truist Financial Corp lessened its stake in Vertiv Holdings Co (NYSE:VRT) by 4.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 36,915 shares of the company’s stock after selling 1,636 shares during the period. Truist Financial Corp’s holdings in Vertiv were worth $914,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Vertiv by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 26,812,702 shares of the company’s stock valued at $260,619,000 after purchasing an additional 157,038 shares in the last quarter. BlackRock Inc. boosted its position in shares of Vertiv by 32.8% during the 1st quarter. BlackRock Inc. now owns 18,988,356 shares of the company’s stock valued at $265,836,000 after purchasing an additional 4,693,256 shares in the last quarter. Starboard Value LP bought a new stake in shares of Vertiv during the 4th quarter valued at about $230,880,000. Clearbridge Investments LLC boosted its position in shares of Vertiv by 9.5% during the 1st quarter. Clearbridge Investments LLC now owns 14,099,958 shares of the company’s stock valued at $197,399,000 after purchasing an additional 1,226,985 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Vertiv by 0.4% during the 1st quarter. UBS Group AG now owns 8,462,646 shares of the company’s stock valued at $121,100,000 after purchasing an additional 37,676 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Insider Activity at Vertiv

In related news, CAO Scott Cripps sold 36,008 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $38.47, for a total transaction of $1,385,227.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Scott Cripps sold 36,008 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $38.47, for a total transaction of $1,385,227.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vpe Holdings, Llc sold 10,000,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $37.50, for a total value of $375,000,000.00. Following the sale, the director now directly owns 7,955,215 shares of the company’s stock, valued at $298,320,562.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,036,008 shares of company stock valued at $1,074,585,228. 5.62% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. TD Cowen upped their target price on Vertiv from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Deutsche Bank Aktiengesellschaft upped their price target on Vertiv from $39.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, September 14th. Evercore ISI upped their price target on Vertiv from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, September 7th. Citigroup upped their price target on Vertiv from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Mizuho upped their price target on Vertiv from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Vertiv Stock Performance

Shares of Vertiv stock opened at $39.76 on Tuesday. The company has a market cap of $15.13 billion, a PE ratio of 61.17 and a beta of 1.43. Vertiv Holdings Co has a 52 week low of $11.95 and a 52 week high of $43.13. The business has a 50 day moving average price of $38.49 and a 200-day moving average price of $28.85. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 1.71.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Vertiv had a return on equity of 36.13% and a net margin of 3.82%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. Equities analysts anticipate that Vertiv Holdings Co will post 1.72 earnings per share for the current fiscal year.

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.