Louisiana State Employees Retirement System acquired a new stake in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,500 shares of the company’s stock, valued at approximately $4,886,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of VRT. Norges Bank acquired a new stake in shares of Vertiv during the 4th quarter valued at about $808,701,000. Marshall Wace LLP increased its holdings in Vertiv by 265.6% in the fourth quarter. Marshall Wace LLP now owns 2,670,007 shares of the company’s stock worth $432,568,000 after buying an additional 1,939,749 shares during the last quarter. Alkeon Capital Management LLC raised its position in Vertiv by 178.2% during the fourth quarter. Alkeon Capital Management LLC now owns 2,003,110 shares of the company’s stock valued at $324,524,000 after acquiring an additional 1,283,110 shares in the last quarter. Schroder Investment Management Group raised its position in Vertiv by 148.0% during the third quarter. Schroder Investment Management Group now owns 1,828,750 shares of the company’s stock valued at $275,885,000 after acquiring an additional 1,091,210 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Vertiv by 49.5% in the second quarter. Ameriprise Financial Inc. now owns 2,811,114 shares of the company’s stock valued at $361,033,000 after acquiring an additional 930,158 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Vertiv Trading Down 6.6%
NYSE:VRT opened at $304.11 on Friday. The company’s 50 day moving average is $324.10 and its 200-day moving average is $254.49. The company has a quick ratio of 1.15, a current ratio of 1.49 and a debt-to-equity ratio of 0.69. Vertiv Holdings Co. has a 12 month low of $110.06 and a 12 month high of $379.93. The firm has a market cap of $116.81 billion, a price-to-earnings ratio of 76.41, a P/E/G ratio of 1.41 and a beta of 2.03.
Vertiv Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th. Vertiv’s dividend payout ratio (DPR) is currently 6.28%.
Analyst Ratings Changes
Several analysts have commented on VRT shares. Oppenheimer boosted their target price on shares of Vertiv from $330.00 to $353.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Jefferies Financial Group restated a “hold” rating and set a $260.00 price target (down from $280.00) on shares of Vertiv in a report on Tuesday, March 31st. Barclays lifted their price objective on shares of Vertiv from $345.00 to $412.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Citigroup increased their target price on shares of Vertiv from $353.00 to $414.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Zacks Research lowered Vertiv from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.39.
Check Out Our Latest Stock Report on VRT
About Vertiv
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.
Featured Articles
- Five stocks we like better than Vertiv
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Xcel Energy Stock Offers Stability as Electricity Demand Builds
Receive News & Ratings for Vertiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertiv and related companies with MarketBeat.com's FREE daily email newsletter.
