Bank of Hawaii Grows Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Bank of Hawaii increased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 10.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 31,355 shares of the company’s stock after acquiring an additional 2,933 shares during the quarter. Bank of Hawaii’s holdings in Vertiv were worth $3,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VRT. Daiwa Securities Group Inc. raised its stake in shares of Vertiv by 85.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 87,456 shares of the company’s stock valued at $8,701,000 after buying an additional 40,356 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Vertiv by 1.1% during the third 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 period. Centaurus Financial Inc. purchased a new position in Vertiv during the third quarter valued at approximately $405,000. Larson Financial Group LLC lifted its holdings in Vertiv by 232.9% in the third quarter. Larson Financial Group LLC now owns 839 shares of the company’s stock valued at $83,000 after acquiring an additional 587 shares during the period. Finally, Swedbank AB boosted its position in Vertiv by 23.2% in the 3rd quarter. Swedbank AB now owns 830,996 shares of the company’s stock worth $82,676,000 after purchasing an additional 156,503 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares in the company, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 80.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,185 shares of company stock valued at $10,074,936 in the last ninety days. 5.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Citigroup upped their price target on Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, TD Cowen raised their price objective on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv currently has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Stock Performance

NYSE VRT opened at $140.15 on Monday. 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 company has a market cap of $52.60 billion, a PE ratio of 93.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. The stock’s 50 day simple moving average is $110.94 and its 200-day simple moving average is $95.18.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

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

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.