Central Pacific Bank Trust Division raised its position in Vertiv Holdings Co. (NYSE:VRT – Free Report) by 444.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,989 shares of the company’s stock after buying an additional 4,889 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Vertiv were worth $970,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Neville Rodie & Shaw Inc. boosted its holdings in Vertiv by 3.1% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 60,392 shares of the company’s stock valued at $9,784,000 after purchasing an additional 1,840 shares in the last quarter. Noble Wealth Management PBC purchased a new position in shares of Vertiv during the 4th quarter worth approximately $65,000. Park Avenue Securities LLC lifted its holdings in shares of Vertiv by 25.6% in the 4th quarter. Park Avenue Securities LLC now owns 24,958 shares of the company’s stock valued at $4,044,000 after buying an additional 5,090 shares during the period. GAMMA Investing LLC boosted its stake in shares of Vertiv by 5.6% in the fourth quarter. GAMMA Investing LLC now owns 3,680 shares of the company’s stock valued at $596,000 after buying an additional 196 shares in the last quarter. Finally, Mirova boosted its stake in shares of Vertiv by 114.8% in the third quarter. Mirova now owns 32,216 shares of the company’s stock valued at $4,860,000 after buying an additional 17,216 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Vertiv Trading Down 4.7%
Shares of VRT stock opened at $256.43 on Friday. The stock has a market cap of $98.11 billion, a P/E ratio of 75.20, a P/E/G ratio of 1.29 and a beta of 2.02. The company has a quick ratio of 1.22, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $276.78. The business has a fifty day simple moving average of $222.78 and a 200-day simple moving average of $185.37.
Vertiv Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 17th will be given a $0.0625 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. Vertiv’s dividend payout ratio is currently 7.33%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on VRT shares. Weiss Ratings upgraded Vertiv from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Barclays boosted their target price on shares of Vertiv from $200.00 to $281.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Mizuho increased their price target on shares of Vertiv from $198.00 to $290.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. TD Cowen reiterated a “buy” rating on shares of Vertiv in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Vertiv from $230.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.28.
Get Our Latest Stock Analysis on VRT
Insiders Place Their Bets
In other news, Chairman David M. Cote sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $255.29, for a total transaction of $10,211,600.00. Following the completion of the transaction, the chairman directly owned 22,258 shares of the company’s stock, valued at $5,682,244.82. This trade represents a 64.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Anders Karlborg sold 30,487 shares of Vertiv stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $246.92, for a total value of $7,527,850.04. Following the transaction, the executive vice president owned 34,746 shares of the company’s stock, valued at $8,579,482.32. This represents a 46.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 489,761 shares of company stock valued at $123,356,815. Corporate insiders own 2.63% of the company’s stock.
Vertiv Company Profile
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.
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