New York State Teachers Retirement System Raises Position in Vertiv Holdings Co. (NYSE:VRT)

New York State Teachers Retirement System increased its holdings in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 18.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,466 shares of the company's stock after purchasing an additional 4,026 shares during the quarter. New York State Teachers Retirement System's holdings in Vertiv were worth $1,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Amalgamated Bank raised its position in Vertiv by 6.2% in the 1st quarter. Amalgamated Bank now owns 25,359 shares of the company's stock worth $1,831,000 after purchasing an additional 1,479 shares during the period. Stonebridge Financial Group LLC raised its position in Vertiv by 8.2% in the 1st quarter. Stonebridge Financial Group LLC now owns 29,079 shares of the company's stock worth $2,100,000 after purchasing an additional 2,211 shares during the period. Prakash Investment Advisors LLC raised its position in Vertiv by 85.6% in the 1st quarter. Prakash Investment Advisors LLC now owns 6,720 shares of the company's stock worth $485,000 after purchasing an additional 3,100 shares during the period. Sovran Advisors LLC purchased a new position in Vertiv in the 1st quarter worth $1,798,000. Finally, Guardian Asset Advisors LLC raised its position in Vertiv by 14.9% in the 1st quarter. Guardian Asset Advisors LLC now owns 12,386 shares of the company's stock worth $894,000 after purchasing an additional 1,603 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Vertiv Price Performance

Shares of VRT opened at $126.26 on Wednesday. The stock has a market cap of $48.12 billion, a PE ratio of 73.41, a price-to-earnings-growth ratio of 1.25 and a beta of 1.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The firm's 50-day simple moving average is $110.86 and its two-hundred day simple moving average is $103.53.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The business's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 earnings per share. Analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a $0.0375 dividend. This represents a dividend yield of 0.14%. The ex-dividend date was Monday, June 16th. This is an increase from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio is currently 8.72%.

Insider Activity at Vertiv

In other news, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president owned 9,551 shares in the company, valued at approximately $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider owned 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VRT shares. The Goldman Sachs Group upped their price objective on shares of Vertiv from $106.00 to $122.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Roth Capital raised shares of Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Cowen reaffirmed a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Finally, Citigroup upped their price objective on shares of Vertiv from $98.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Vertiv has an average rating of "Moderate Buy" and an average target price of $131.69.

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.

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