New York State Common Retirement Fund Increases Stock Holdings in Vertiv Holdings Co. $VRT

New York State Common Retirement Fund increased its stake in shares of Vertiv Holdings Co. (NYSE:VRT) by 73.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,921 shares of the company’s stock after buying an additional 144,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Vertiv were worth $51,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of VRT. Empowered Funds LLC grew its stake in shares of Vertiv by 25.9% in the 1st quarter. Empowered Funds LLC now owns 11,557 shares of the company’s stock worth $834,000 after acquiring an additional 2,377 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Vertiv in the 2nd quarter worth about $567,000. Consolidated Portfolio Review Corp purchased a new stake in Vertiv in the 2nd quarter valued at about $338,000. PFG Investments LLC lifted its position in shares of Vertiv by 65.5% during the 2nd quarter. PFG Investments LLC now owns 12,970 shares of the company’s stock worth $1,665,000 after buying an additional 5,134 shares in the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of Vertiv in the 2nd quarter worth approximately $58,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertiv

In other news, EVP Stephen Liang sold 5,501 shares of Vertiv stock in a transaction on Monday, November 24th. The stock was sold at an average price of $170.48, for a total value of $937,810.48. Following the completion of the transaction, the executive vice president directly owned 4,050 shares in the company, valued at approximately $690,444. The trade was a 57.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.63% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VRT. Deutsche Bank Aktiengesellschaft set a $216.00 price target on Vertiv and gave the company a “buy” rating in a research report on Wednesday, October 15th. KGI Securities raised Vertiv from a “hold” rating to an “outperform” rating in a research report on Thursday, October 23rd. Wolfe Research cut Vertiv from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 9th. Barclays upgraded shares of Vertiv from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $181.00 to $200.00 in a research report on Friday, January 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vertiv in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $187.89.

Vertiv Stock Performance

NYSE VRT opened at $195.17 on Friday. The firm has a market cap of $74.62 billion, a P/E ratio of 73.65, a price-to-earnings-growth ratio of 1.19 and a beta of 2.06. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $172.67 and its 200-day moving average is $158.47. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $202.45.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were given a dividend of $0.0625 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Tuesday, November 25th. Vertiv’s dividend payout ratio (DPR) is currently 9.43%.

Vertiv Profile

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.