Commerce Bank Sells 133 Shares of Vertiv Holdings Co (NYSE:VRT)

Commerce Bank cut its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,752 shares of the company’s stock after selling 133 shares during the period. Commerce Bank’s holdings in Vertiv were worth $2,065,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in Vertiv during the 3rd quarter worth approximately $160,000. PNC Financial Services Group Inc. lifted its holdings in shares of Vertiv by 10.2% during the third quarter. PNC Financial Services Group Inc. now owns 28,066 shares of the company’s stock worth $2,792,000 after buying an additional 2,604 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Vertiv in the third quarter valued at about $869,000. Banque Cantonale Vaudoise grew its stake in shares of Vertiv by 38.3% in the third quarter. Banque Cantonale Vaudoise now owns 29,503 shares of the company’s stock valued at $2,935,000 after acquiring an additional 8,168 shares in the last quarter. Finally, Wrapmanager Inc. bought a new position in Vertiv during the third quarter worth about $232,000. Institutional investors own 89.92% of the company’s stock.

Insider Activity

In related news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,185 shares of company stock worth $10,074,936 in the last quarter. 5.01% of the stock is owned by corporate insiders.

Vertiv Stock Performance

Vertiv stock opened at $140.15 on Friday. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The company has a market capitalization of $52.60 billion, a P/E ratio of 93.43, a P/E/G ratio of 1.45 and a beta of 1.58. The business has a 50 day moving average of $110.94 and a 200-day moving average of $95.20.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. On average, equities research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VRT. TD Cowen increased their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group upped their target price on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Mizuho raised their price target on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Citigroup upped their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $138.50.

Vertiv Profile

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.