First Hawaiian Bank Acquires New Stake in Vertiv Holdings Co (NYSE:VRT)

First Hawaiian Bank bought a new position in Vertiv Holdings Co (NYSE:VRT) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 19,817 shares of the company’s stock, valued at approximately $1,716,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Vertiv by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock worth $53,000 after purchasing an additional 119 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Vertiv by 33.2% in the first quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock worth $45,000 after buying an additional 137 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Vertiv by 24.7% in the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock worth $41,000 after buying an additional 170 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Vertiv by 66.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. Finally, TFC Financial Management Inc. increased its position in shares of Vertiv by 23.9% during the first quarter. TFC Financial Management Inc. now owns 1,090 shares of the company’s stock valued at $89,000 after acquiring an additional 210 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Vertiv Stock Performance

NYSE:VRT traded down $1.67 during mid-day trading on Monday, hitting $67.79. 15,887,532 shares of the company traded hands, compared to its average volume of 8,814,824. The stock’s fifty day moving average price is $89.25 and its 200-day moving average price is $81.08. The firm has a market cap of $25.37 billion, a price-to-earnings ratio of 65.18, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58. The company has a quick ratio of 0.98, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Vertiv Holdings Co has a one year low of $32.38 and a one year high of $109.27.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.15%. Vertiv’s dividend payout ratio is presently 9.62%.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of research analyst reports. Citigroup upped their price target on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Mizuho lifted their target price on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. The Goldman Sachs Group lowered their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Oppenheimer upped their price objective on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

Insiders Place Their Bets

In other news, Director Doherty Philip O’ sold 9,529 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the transaction, the director now owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Roger Fradin sold 16,667 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total value of $1,731,034.62. Following the completion of the transaction, the director now directly owns 218,333 shares of the company’s stock, valued at $22,676,065.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now directly owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The disclosure for this sale can be found here. Insiders sold 1,115,865 shares of company stock worth $115,378,949 in the last three months. 5.01% of the stock is 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.