Raymond James Trust N.A. Increases Stock Position in Vertiv Holdings Co (NYSE:VRT)

Raymond James Trust N.A. lifted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 123.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,833 shares of the company’s stock after purchasing an additional 3,218 shares during the period. Raymond James Trust N.A.’s holdings in Vertiv were worth $580,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Jennison Associates LLC increased its position in Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after buying an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv during the 2nd quarter worth about $331,091,000. Clearbridge Investments LLC raised its stake in Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Vertiv by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,524,112 shares of the company’s stock valued at $218,512,000 after purchasing an additional 169,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Vertiv by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,473,204 shares of the company’s stock worth $214,112,000 after purchasing an additional 355,059 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Performance

NYSE VRT opened at $132.03 on Tuesday. 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 Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67. The firm has a market capitalization of $49.56 billion, a P/E ratio of 88.02, a P/E/G ratio of 1.44 and a beta of 1.58. The business’s 50-day simple moving average is $111.84 and its 200-day simple moving average is $95.42.

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 firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the company posted $0.52 earnings per share. Vertiv’s revenue was up 19.0% compared to the same quarter last year. Equities analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

Analyst Ratings Changes

VRT has been the topic of several recent analyst reports. Evercore ISI upped their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. 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 note on Tuesday, November 19th. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. UBS Group assumed coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Finally, Citigroup lifted their price target on Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $138.50.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. This trade represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,185 shares of company stock valued at $10,074,936 over the last quarter. Company insiders own 5.01% of the company’s stock.

Vertiv Company 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.