PNC Financial Services Group Inc. Buys 9,870 Shares of Vertiv Holdings Co (NYSE:VRT)

PNC Financial Services Group Inc. lifted its stake in shares of Vertiv Holdings Co (NYSE:VRTFree Report) by 296.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,205 shares of the company’s stock after buying an additional 9,870 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vertiv were worth $634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in shares of Vertiv during the 4th quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Vertiv in the 4th quarter valued at about $38,000. Quadrant Capital Group LLC raised its position in shares of Vertiv by 24.7% in the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after buying an additional 170 shares in the last quarter. TFC Financial Management Inc. bought a new stake in shares of Vertiv during the 4th quarter worth approximately $42,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $38,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 4.1 %

Shares of VRT opened at $98.07 on Friday. The stock’s 50-day moving average price is $90.50 and its two-hundred day moving average price is $67.87. Vertiv Holdings Co has a 12 month low of $18.74 and a 12 month high of $109.27. The company has a market capitalization of $36.71 billion, a PE ratio of 94.30, a PEG ratio of 1.49 and a beta of 1.55. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09.

Vertiv (NYSE:VRTGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts anticipate that Vertiv Holdings Co will post 2.42 EPS for the current year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.10%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Activity

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yibin Edward Cui sold 668 shares of the company’s stock in a transaction dated Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the transaction, the insider now owns 19,452 shares in the company, valued at approximately $1,836,074.28. The disclosure for this sale can be found here. Insiders have sold 4,219,333 shares of company stock valued at $404,717,953 in the last ninety days. 5.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VRT. Citigroup upped their target price on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Bank of America raised their price target on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Evercore ISI upped their price objective on shares of Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Oppenheimer boosted 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.00.

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About Vertiv

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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.

See Also

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Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

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