Price T Rowe Associates Inc. MD Increases Position in Vertiv Holdings Co (NYSE:VRT)

Price T Rowe Associates Inc. MD raised its position in shares of Vertiv Holdings Co (NYSE:VRT) by 303.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,777,057 shares of the company’s stock after buying an additional 3,591,903 shares during the period. Price T Rowe Associates Inc. MD owned about 1.28% of Vertiv worth $390,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after buying an additional 1,766,784 shares in the last quarter. Coatue Management LLC raised its position in shares of Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after acquiring an additional 2,249,353 shares in the last quarter. Norges Bank purchased a new stake in Vertiv during the fourth quarter worth approximately $185,339,000. Westfield Capital Management Co. LP boosted its holdings in Vertiv by 85.2% in the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. Finally, Robeco Schweiz AG increased its stake in Vertiv by 0.4% in the fourth quarter. Robeco Schweiz AG now owns 2,793,300 shares of the company’s stock valued at $134,162,000 after purchasing an additional 12,000 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Price Performance

NYSE VRT traded up $0.64 during mid-day trading on Friday, hitting $77.12. The stock had a trading volume of 7,834,561 shares, compared to its average volume of 9,546,067. The company has a 50 day simple moving average of $91.90 and a 200 day simple moving average of $79.97. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The company has a market cap of $28.87 billion, a price-to-earnings ratio of 74.15, a P/E/G ratio of 1.06 and a beta of 1.58. Vertiv Holdings Co has a 52-week low of $25.09 and a 52-week high of $109.27.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share 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 49.53%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insiders Place Their Bets

In related news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Doherty Philip O’ sold 9,529 shares of Vertiv stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roger Fradin sold 16,667 shares of Vertiv stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total transaction of $1,731,034.62. Following the completion of the transaction, the director now owns 218,333 shares in the company, valued at approximately $22,676,065.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,674,034 shares of company stock valued at $354,931,478. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Evercore ISI raised their target price on shares of Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. The Goldman Sachs Group lowered their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America increased their target price 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. Finally, Citigroup raised their price target on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

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.