Cannell & Spears LLC reduced its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 691,333 shares of the company's stock after selling 56,438 shares during the period. Vertiv accounts for about 1.6% of Cannell & Spears LLC's investment portfolio, making the stock its 12th largest position. Cannell & Spears LLC owned 0.18% of Vertiv worth $78,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Vertiv by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares during the period. Jennison Associates LLC raised its holdings in shares of Vertiv by 68.6% during the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock valued at $880,971,000 after buying an additional 3,153,932 shares during the period. State Street Corp grew its position in Vertiv by 4.2% in the third quarter. State Street Corp now owns 7,635,081 shares of the company's stock valued at $759,614,000 after acquiring an additional 308,704 shares in the last quarter. Geode Capital Management LLC grew its position in Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company's stock valued at $592,433,000 after acquiring an additional 408,054 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Vertiv by 25.3% during the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after purchasing an additional 990,361 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
VRT has been the subject of a number of recent analyst reports. Morgan Stanley assumed coverage on shares of Vertiv in a report on Monday, January 6th. They set an "overweight" rating and a $150.00 price target for the company. Barclays lowered their price objective on Vertiv from $111.00 to $100.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Royal Bank of Canada began coverage on Vertiv in a research note on Friday, March 7th. They set an "outperform" rating and a $121.00 target price for the company. Evercore ISI cut their price target on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. Finally, Melius Research reaffirmed a "hold" rating and set a $125.00 price target on shares of Vertiv in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertiv currently has an average rating of "Moderate Buy" and an average price target of $135.33.
Read Our Latest Analysis on Vertiv
Vertiv Price Performance
Vertiv stock traded up $3.09 during mid-day trading on Tuesday, hitting $75.29. The company's stock had a trading volume of 10,125,749 shares, compared to its average volume of 8,781,934. Vertiv Holdings Co has a twelve month low of $62.40 and a twelve month high of $155.84. The stock's fifty day moving average price is $101.47 and its two-hundred day moving average price is $111.58. The stock has a market capitalization of $28.67 billion, a P/E ratio of 58.82, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19.
Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter last year, the firm earned $0.56 EPS. Research analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current year.
Vertiv Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv's dividend payout ratio (DPR) is currently 11.72%.
About Vertiv
(
Free Report)
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.
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