Norges Bank purchased a new position in Vertiv Holdings Co (NYSE:VRT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,448,439 shares of the company's stock, valued at approximately $391,777,000. Norges Bank owned approximately 0.92% of Vertiv at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after buying an additional 1,244,780 shares during the last quarter. Jennison Associates LLC lifted its position in Vertiv by 68.6% in the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock valued at $880,971,000 after acquiring an additional 3,153,932 shares in the last quarter. State Street Corp boosted its stake in Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company's stock valued at $759,614,000 after purchasing an additional 308,704 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company's stock worth $592,433,000 after purchasing an additional 408,054 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company's stock valued at $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on VRT shares. Evercore ISI decreased their target price on Vertiv from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, January 17th. Barclays decreased their price objective on shares of Vertiv from $111.00 to $100.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Morgan Stanley began coverage on Vertiv in a research note on Monday, January 6th. They issued an "overweight" rating and a $150.00 price target on the stock. Fox Advisors initiated coverage on Vertiv in a research report on Monday, January 6th. They set an "equal weight" rating for the company. Finally, Melius cut Vertiv from a "buy" rating to a "hold" rating and set a $125.00 target price on the stock. in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Vertiv has an average rating of "Moderate Buy" and a consensus price target of $135.33.
Check Out Our Latest Stock Analysis on VRT
Vertiv Price Performance
Shares of NYSE:VRT traded up $2.11 during midday trading on Tuesday, reaching $74.31. 7,265,607 shares of the company were exchanged, compared to its average volume of 10,639,396. The stock has a market cap of $28.30 billion, a PE ratio of 58.05, a price-to-earnings-growth ratio of 1.07 and a beta of 1.71. The business's fifty day moving average is $101.47 and its two-hundred day moving average is $111.58. Vertiv Holdings Co has a one year low of $62.40 and a one year high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19.
Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. As a group, analysts predict 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. Stockholders of record on Tuesday, March 18th were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.20%. Vertiv's dividend payout ratio is currently 11.72%.
Vertiv Company Profile
(
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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