Huntington National Bank Sells 114 Shares of Vertiv Holdings Co (NYSE:VRT)

Huntington National Bank trimmed its stake in Vertiv Holdings Co (NYSE:VRT) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 929 shares of the company’s stock after selling 114 shares during the period. Huntington National Bank’s holdings in Vertiv were worth $92,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. KBC Group NV boosted its stake in Vertiv by 46.8% in the third quarter. KBC Group NV now owns 76,932 shares of the company’s stock valued at $7,654,000 after acquiring an additional 24,526 shares in the last quarter. Freemont Management S.A. increased its position in Vertiv by 100.0% during the 3rd quarter. Freemont Management S.A. now owns 42,400 shares of the company’s stock valued at $4,218,000 after buying an additional 21,200 shares in the last quarter. Kovack Advisors Inc. raised its stake in Vertiv by 91.5% in the third quarter. Kovack Advisors Inc. now owns 61,392 shares of the company’s stock valued at $6,108,000 after buying an additional 29,338 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Vertiv by 166.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 28,236 shares of the company’s stock worth $2,809,000 after acquiring an additional 17,620 shares in the last quarter. Finally, Hartline Investment Corp grew its stake in shares of Vertiv by 24.9% during the third quarter. Hartline Investment Corp now owns 260,689 shares of the company’s stock worth $25,936,000 after acquiring an additional 51,985 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 80.99 % 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VRT. Citigroup lifted their target price on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group initiated coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. UBS Group started coverage on shares of Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price for the company. Finally, The Goldman Sachs Group lowered their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and an average price target of $125.40.

Vertiv Stock Up 1.8 %

VRT stock opened at $123.05 on Tuesday. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $130.30. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm’s fifty day moving average is $106.34 and its 200 day moving average is $93.93. The firm has a market cap of $46.19 billion, a PE ratio of 82.03, a P/E/G ratio of 1.31 and a beta of 1.58.

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

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is presently 6.67%.

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.