Vertiv Holdings Co. (NYSE:VRT) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 249.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 239,300 shares of the company's stock after purchasing an additional 170,900 shares during the quarter. State of Michigan Retirement System owned approximately 0.06% of Vertiv worth $17,277,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares during the period. Geode Capital Management LLC raised its stake in shares of Vertiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock valued at $688,260,000 after acquiring an additional 99,181 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv in the 4th quarter worth approximately $597,379,000. Wellington Management Group LLP lifted its holdings in shares of Vertiv by 25.3% in the 4th 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 during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Vertiv by 4.8% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Vertiv Stock Performance

Vertiv stock traded up $2.69 during midday trading on Friday, hitting $123.41. 7,216,508 shares of the company's stock were exchanged, compared to its average volume of 8,618,671. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $155.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. The stock has a market cap of $47.03 billion, a price-to-earnings ratio of 71.75, a price-to-earnings-growth ratio of 1.23 and a beta of 1.75. The firm's 50 day simple moving average is $112.86 and its 200 day simple moving average is $103.65.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. Vertiv's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. Equities research analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current 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 issued a $0.0375 dividend. This is an increase from Vertiv's previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. This represents a dividend yield of 0.14%. Vertiv's payout ratio is presently 8.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Cowen restated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Wolfe Research restated an "outperform" rating and issued a $155.00 price objective on shares of Vertiv in a report on Thursday. Evercore ISI restated an "outperform" rating on shares of Vertiv in a report on Thursday. KGI Securities assumed coverage on shares of Vertiv in a report on Thursday, April 24th. They issued a "hold" rating on the stock. Finally, Melius Research upgraded shares of Vertiv from a "hold" rating to a "strong-buy" rating and upped their price objective for the stock from $134.00 to $165.00 in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $134.24.

Insider Activity

In related news, insider Karsten Winther sold 5,500 shares of the firm's 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 completion of the sale, the insider owned 18,847 shares in the company, valued at $1,777,837.51. This trade 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 is available at this link. Also, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were 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 owned 9,551 shares of the company's stock, valued at $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 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.