Lansforsakringar Fondforvaltning AB publ Purchases New Stake in Vertiv Holdings Co (NYSE:VRT)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 114,272 shares of the company's stock, valued at approximately $12,982,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRT. Barclays PLC raised its position in shares of Vertiv by 51.4% in the third quarter. Barclays PLC now owns 431,586 shares of the company's stock valued at $42,940,000 after buying an additional 146,463 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of Vertiv in the fourth quarter valued at approximately $215,000. Fifth Third Bancorp raised its position in shares of Vertiv by 8.1% in the fourth quarter. Fifth Third Bancorp now owns 1,126 shares of the company's stock valued at $128,000 after buying an additional 84 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Vertiv by 108.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,147 shares of the company's stock valued at $244,000 after buying an additional 1,115 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Vertiv in the fourth quarter valued at approximately $218,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VRT. Cowen reissued a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their target price on shares of Vertiv from $135.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Citigroup lowered their target price on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley lowered their target price on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Royal Bank of Canada assumed coverage on shares of Vertiv in a report on Friday, March 7th. They issued an "outperform" rating and a $121.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $122.38.

Vertiv Trading Down 0.7%

VRT traded down $0.73 during trading on Friday, hitting $107.74. 6,931,195 shares of the company's stock were exchanged, compared to its average volume of 8,913,535. The firm has a market cap of $41.06 billion, a P/E ratio of 84.17, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70. The stock has a 50 day moving average price of $86.34 and a 200 day moving average price of $105.09. 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 Holdings Co has a 1 year low of $53.60 and a 1 year high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The business's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were paid a $0.0375 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. Vertiv's dividend payout ratio (DPR) is presently 8.72%.

Insider Activity

In other news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the transaction, the insider now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.63% of the company's stock.

Vertiv Company 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.