Glenmede Trust Co. NA purchased a new stake in Vertiv Holdings Co. (NYSE:VRT – Free Report) in the 1st quarter, Holdings Channel reports. The fund purchased 3,553 shares of the company’s stock, valued at approximately $890,000.
A number of other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new position in Vertiv during the fourth quarter worth $808,701,000. Marshall Wace LLP boosted its position in shares of Vertiv by 265.6% during the 4th quarter. Marshall Wace LLP now owns 2,670,007 shares of the company’s stock worth $432,568,000 after purchasing an additional 1,939,749 shares in the last quarter. Alkeon Capital Management LLC boosted its position in shares of Vertiv by 178.2% during the 4th quarter. Alkeon Capital Management LLC now owns 2,003,110 shares of the company’s stock worth $324,524,000 after purchasing an additional 1,283,110 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Vertiv by 49.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,811,114 shares of the company’s stock worth $361,033,000 after purchasing an additional 930,158 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Vertiv during the 3rd quarter worth $125,331,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
Vertiv Trading Down 1.0%
NYSE:VRT opened at $275.29 on Friday. Vertiv Holdings Co. has a 52-week low of $118.70 and a 52-week high of $379.93. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $301.67 and a 200-day simple moving average of $280.38. The company has a market capitalization of $105.74 billion, a PE ratio of 62.28, a price-to-earnings-growth ratio of 1.14 and a beta of 2.06.
Vertiv Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were given a $0.0625 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. Vertiv’s dividend payout ratio is currently 5.66%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $305.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. TD Cowen upped their target price on shares of Vertiv from $347.00 to $387.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $368.00 target price on shares of Vertiv in a report on Friday, July 31st. Bank of America lifted their price target on shares of Vertiv from $370.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Mizuho set a $380.00 price target on Vertiv in a research note on Thursday, May 21st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.33.
Get Our Latest Research Report on VRT
Vertiv Company Profile
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.
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