Eastern Bank Takes Position in Vertiv Holdings Co (NYSE:VRT)

Eastern Bank purchased a new stake in Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,030 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC purchased a new position in Vertiv in the 3rd quarter valued at about $29,000. Anchor Investment Management LLC acquired a new stake in Vertiv during the 2nd quarter worth $26,000. Atticus Wealth Management LLC purchased a new position in shares of Vertiv in the first quarter worth about $27,000. Mather Group LLC. grew its stake in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Vertiv in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Up 1.6 %

Vertiv stock opened at $110.05 on Friday. Vertiv Holdings Co has a fifty-two week low of $34.60 and a fifty-two week high of $116.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The firm has a 50 day moving average price of $92.37 and a 200 day moving average price of $89.83. The company has a market capitalization of $41.20 billion, a PE ratio of 105.82, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. Research analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group began coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Citigroup upped their price objective on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday. Bank of America lifted their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI increased their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Mizuho lifted their price target on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $122.11.

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.