Voloridge Investment Management LLC Increases Holdings in Vertiv Holdings Co (NYSE:VRT)

Voloridge Investment Management LLC raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 370.7% in the fourth quarter, HoldingsChannel reports. The firm owned 607,384 shares of the company’s stock after buying an additional 478,350 shares during the quarter. Voloridge Investment Management LLC’s holdings in Vertiv were worth $69,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv in the fourth quarter worth $597,379,000. Norges Bank purchased a new stake in shares of Vertiv in the 4th quarter worth about $391,777,000. Jennison Associates LLC lifted its position in shares of Vertiv by 68.6% in the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after purchasing an additional 3,153,932 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company’s stock valued at $379,101,000 after buying an additional 1,928,275 shares during the period. Finally, Vanguard Group Inc. increased its position 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 period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider now owns 18,847 shares of the company’s stock, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VRT has been the topic of several research reports. Melius Research reaffirmed a “hold” rating and set a $125.00 price objective on shares of Vertiv in a research report on Tuesday, January 28th. Morgan Stanley dropped their price target on Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Roth Capital upgraded Vertiv to a “strong-buy” rating in a report on Monday, April 7th. Barclays dropped their target price on shares of Vertiv from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Friday, April 4th. Finally, Cowen reiterated a “buy” rating on shares of Vertiv in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong 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 $122.06.

Vertiv Stock Down 0.1%

VRT stock opened at $106.34 on Wednesday. The stock has a market capitalization of $40.53 billion, a P/E ratio of 83.08, a P/E/G ratio of 1.07 and a beta of 1.70. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. Vertiv Holdings Co has a 1-year low of $53.60 and a 1-year high of $155.84. The business has a fifty day moving average price of $83.58 and a 200-day moving average price of $105.98.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. Vertiv’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS. Equities analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 yield of 0.14%. Vertiv’s dividend payout ratio (DPR) is 8.72%.

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.