Renaissance Technologies LLC Purchases 169,700 Shares of Vertiv Holdings Co (NYSE:VRT)

Renaissance Technologies LLC boosted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,524,112 shares of the company’s stock after acquiring an additional 169,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Vertiv were worth $218,512,000 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. PNC Financial Services Group Inc. raised its holdings in Vertiv by 296.0% during the 4th 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. California State Teachers Retirement System increased its stake in shares of 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 acquiring an additional 202,766 shares in the last quarter. Williamson Legacy Group LLC bought a new stake in shares of Vertiv in the 4th quarter valued at $1,645,000. Quadrant Capital Group LLC increased its stake in shares of Vertiv by 24.7% in the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after acquiring an additional 170 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Vertiv by 1.3% in the 1st quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock valued at $88,628,000 after acquiring an additional 14,100 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on VRT shares. TD Cowen boosted their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Evercore ISI restated an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group cut their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and an average target price of $102.13.

Vertiv Price Performance

NYSE VRT opened at $85.76 on Monday. The company has a market cap of $32.10 billion, a PE ratio of 82.46, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm’s 50-day simple moving average is $79.75 and its two-hundred day simple moving average is $84.77.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.46 earnings per share. The company’s revenue was up 12.6% compared to the same quarter last year. Research analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.01% of the stock is owned by company insiders.

Vertiv Company 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.