California Public Employees Retirement System Sells 20,949 Shares of Vertiv Holdings Co (NYSE:VRT)

California Public Employees Retirement System reduced its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,958 shares of the company’s stock after selling 20,949 shares during the period. California Public Employees Retirement System owned 0.17% of Vertiv worth $30,353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC raised its stake in shares of Vertiv by 169.2% in the 4th quarter. Jennison Associates LLC now owns 32,878 shares of the company’s stock valued at $1,579,000 after acquiring an additional 20,663 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Vertiv by 22.1% during the fourth quarter. Handelsbanken Fonder AB now owns 72,900 shares of the company’s stock valued at $3,501,000 after purchasing an additional 13,200 shares during the last quarter. CWM LLC raised its position in shares of Vertiv by 64.1% in the fourth quarter. CWM LLC now owns 6,941 shares of the company’s stock valued at $333,000 after purchasing an additional 2,710 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Vertiv in the fourth quarter valued at approximately $1,436,000. Finally, abrdn plc raised its holdings in Vertiv by 56.0% in the 4th quarter. abrdn plc now owns 75,424 shares of the company’s stock worth $3,623,000 after acquiring an additional 27,087 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday. Oppenheimer boosted their price objective on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup boosted their price objective on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Mizuho boosted their price objective on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average target price of $81.11.

Vertiv Trading Up 3.5 %

Vertiv stock opened at $93.49 on Friday. The business has a 50 day moving average price of $76.51 and a two-hundred day moving average price of $57.59. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The stock has a market cap of $35.71 billion, a price-to-earnings ratio of 89.89, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59. Vertiv Holdings Co has a 12 month low of $13.73 and a 12 month high of $95.32.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Vertiv Holdings Co will post 2.35 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Buying and Selling

In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Company insiders own 5.62% of the company’s stock.

Vertiv 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.