Truist Financial Corp Raises Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Truist Financial Corp increased its position in Vertiv Holdings Co (NYSE:VRT) by 51.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,578 shares of the company’s stock after acquiring an additional 22,544 shares during the period. Truist Financial Corp’s holdings in Vertiv were worth $7,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in Vertiv by 68.6% in the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after acquiring an additional 3,153,932 shares during the last quarter. State Street Corp raised its stake in Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares during the last quarter. Geode Capital Management LLC raised its stake in Vertiv by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after acquiring an additional 408,054 shares during the last quarter. Wellington Management Group LLP raised its stake in Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after acquiring an additional 2,860,181 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Vertiv by 1.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after acquiring an additional 40,696 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 8.5 %

Shares of NYSE VRT opened at $95.92 on Friday. The firm has a market cap of $36.00 billion, a price-to-earnings ratio of 74.93, a PEG ratio of 1.10 and a beta of 1.64. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a 52-week low of $61.25 and a 52-week high of $155.84. The business’s 50 day moving average is $120.90 and its two-hundred day moving average is $109.46.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter last year, the company earned $0.56 EPS. Research analysts predict that Vertiv Holdings Co will post 3.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VRT shares. Melius Research reiterated a “hold” rating and set a $125.00 price objective on shares of Vertiv in a research note on Tuesday, January 28th. Evercore ISI reduced their price objective on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. lifted their price objective on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Oppenheimer lifted their price objective on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Barclays reduced their price objective on Vertiv from $142.00 to $131.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Insider Transactions at Vertiv

In other news, Director Jan Van Dokkum sold 38,647 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. This represents a 60.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company’s stock.

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.