Vanguard Group Inc. Has $2.75 Billion Stake in Vertiv Holdings Co (NYSE:VRT)

Vanguard Group Inc. raised its stake in Vertiv Holdings Co (NYSE:VRT) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,622,257 shares of the company’s stock after purchasing an additional 1,766,784 shares during the quarter. Vanguard Group Inc. owned 8.98% of Vertiv worth $2,745,930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Nordea Investment Management AB bought a new position in Vertiv during the 4th quarter valued at $1,040,000. PNC Financial Services Group Inc. boosted its holdings in Vertiv by 296.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock worth $634,000 after purchasing an additional 9,870 shares during the last quarter. Xponance Inc. grew its position in Vertiv by 2.9% in the 4th quarter. Xponance Inc. now owns 14,984 shares of the company’s stock worth $720,000 after purchasing an additional 426 shares in the last quarter. California State Teachers Retirement System increased its stake in Vertiv by 58.8% in the 4th quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock valued at $26,312,000 after buying an additional 202,766 shares during the last quarter. Finally, WT Asset Management Ltd bought a new position in shares of Vertiv during the 4th quarter worth approximately $24,486,000. Institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

VRT has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price objective on Vertiv from $103.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Mizuho lifted their price objective on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Bank of America raised their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Citigroup raised their target price on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. upped their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.11.

Vertiv Price Performance

Shares of VRT stock traded up $2.75 during trading hours on Friday, reaching $85.31. The stock had a trading volume of 7,387,300 shares, compared to its average volume of 8,415,214. The stock’s fifty day simple moving average is $93.53 and its 200 day simple moving average is $78.75. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $31.94 billion, a PE ratio of 82.03, a PEG ratio of 1.24 and a beta of 1.58. Vertiv Holdings Co has a 12 month low of $25.09 and a 12 month high of $109.27.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Vertiv Holdings Co will post 2.44 EPS for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Monday, June 17th. Vertiv’s payout ratio is 9.62%.

Insider Activity

In other Vertiv news, Director Doherty Philip O’ sold 2,511,295 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the sale, the director now owns 9,324,181 shares in the company, valued at $873,116,308.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Yibin Edward Cui sold 668 shares of the stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the transaction, the insider now owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Doherty Philip O’ sold 2,511,295 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the completion of the sale, the director now directly owns 9,324,181 shares of the company’s stock, valued at $873,116,308.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,162,739 shares of company stock worth $400,713,362. 5.01% of the stock is currently owned by corporate insiders.

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.