PNC Financial Services Group Inc. Grows Position in Vertiv Holdings Co (NYSE:VRT)

PNC Financial Services Group Inc. raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 10.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,066 shares of the company’s stock after buying an additional 2,604 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vertiv were worth $2,792,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Vertiv during the third quarter worth $869,000. Banque Cantonale Vaudoise grew its holdings in shares of Vertiv by 38.3% during the third quarter. Banque Cantonale Vaudoise now owns 29,503 shares of the company’s stock worth $2,935,000 after buying an additional 8,168 shares in the last quarter. Wrapmanager Inc. purchased a new stake in shares of Vertiv during the third quarter worth $232,000. Meeder Asset Management Inc. grew its holdings in shares of Vertiv by 1,441.8% during the third quarter. Meeder Asset Management Inc. now owns 42,354 shares of the company’s stock worth $4,214,000 after buying an additional 39,607 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Vertiv during the third quarter worth $409,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on VRT. Mizuho raised their price objective on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. UBS Group began coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective for the company. Bank of America raised their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI raised their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Oppenheimer raised their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Price Performance

Shares of VRT opened at $132.03 on Tuesday. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67. The stock has a market cap of $49.56 billion, a PE ratio of 88.02, a P/E/G ratio of 1.44 and a beta of 1.58. The firm has a 50-day simple moving average of $111.84 and a two-hundred day simple moving average of $95.42. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

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

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This is a positive change 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 presently 6.67%.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the business’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 transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,185 shares of company stock valued at $10,074,936. 5.01% of the stock is currently owned by company insiders.

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.