Vertiv Holdings Co. (NYSE:VRT) Shares Purchased by New York State Teachers Retirement System

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

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Vertiv by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after acquiring an additional 1,244,780 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Vertiv by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock worth $688,260,000 after acquiring an additional 99,181 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv in the fourth quarter worth $597,379,000. Wellington Management Group LLP increased its position in shares of Vertiv by 25.3% in the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock worth $557,349,000 after acquiring an additional 990,361 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Vertiv by 4.8% in the fourth quarter. Clearbridge Investments LLC now owns 3,647,326 shares of the company's stock worth $414,373,000 after acquiring an additional 167,061 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Wall Street Analysts Forecast Growth

VRT has been the subject of several analyst reports. Citigroup upped their target price 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. Barclays upped their target price on shares of Vertiv from $90.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday. Evercore ISI restated an "outperform" rating and issued a $150.00 target price (up from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. Roth Mkm initiated coverage on shares of Vertiv in a research note on Tuesday, April 8th. They issued a "buy" rating and a $75.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Vertiv has an average rating of "Buy" and a consensus price target of $132.94.

Vertiv Stock Performance

Shares of NYSE:VRT traded down $10.23 on Thursday, reaching $118.14. 13,778,155 shares of the company's stock were exchanged, compared to its average volume of 8,566,676. The firm has a market capitalization of $45.02 billion, a price-to-earnings ratio of 68.49, a PEG ratio of 1.25 and a beta of 1.75. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The business's 50-day moving average is $111.72 and its two-hundred day moving average is $103.70. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09.

Vertiv (NYSE:VRT - Get Free Report) last released 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. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the company earned $0.43 EPS. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, equities research analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a $0.0375 dividend. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio (DPR) is 8.72%.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider owned 18,847 shares of the company's stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, the executive vice president directly owned 9,551 shares in the company, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by company insiders.

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.