M&T Bank Corp Boosts Holdings in Vertiv Holdings Co. (NYSE:VRT)

M&T Bank Corp grew its holdings in shares of Vertiv Holdings Co. (NYSE:VRT) by 11.7% during the 1st quarter, HoldingsChannel reports. The fund owned 41,242 shares of the company’s stock after acquiring an additional 4,306 shares during the quarter. M&T Bank Corp’s holdings in Vertiv were worth $2,978,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. North Star Investment Management Corp. raised its stake in shares of Vertiv by 4,120.0% during the first quarter. North Star Investment Management Corp. now owns 422 shares of the company’s stock worth $30,000 after acquiring an additional 412 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company’s stock worth $36,000 after acquiring an additional 214 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of Vertiv during the fourth quarter worth approximately $37,000. TD Private Client Wealth LLC raised its stake in shares of Vertiv by 37.5% during the first quarter. TD Private Client Wealth LLC now owns 510 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Vertiv during the first quarter worth approximately $43,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on VRT shares. Wolfe Research reissued an “outperform” rating and set a $155.00 price target on shares of Vertiv in a research note on Thursday. Morgan Stanley decreased their target price on shares of Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Barclays lifted their target price on shares of Vertiv from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup lifted their target price on shares of Vertiv from $98.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Vertiv in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $134.24.

Vertiv Stock Up 2.2%

Shares of Vertiv stock opened at $123.41 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. The company’s fifty day simple moving average is $112.86 and its two-hundred day simple moving average is $103.76. The company has a market cap of $47.03 billion, a P/E ratio of 71.75, a PEG ratio of 1.20 and a beta of 1.75. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $155.84.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $0.43 EPS. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. Research analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a $0.0375 dividend. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from Vertiv’s previous dividend of $0.01. This represents a dividend yield of 0.14%. Vertiv’s dividend payout ratio is currently 8.72%.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 43,683 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the sale, the executive vice president directly owned 9,551 shares of the company’s stock, valued at $1,106,292.33. This represents a 82.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karsten Winther sold 5,500 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the sale, the insider directly owned 18,847 shares in the company, valued at $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is owned by corporate insiders.

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.