State of New Jersey Common Pension Fund D Has $8.87 Million Holdings in Vertiv Holdings Co. $VRT

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Vertiv Holdings Co. by 7.1%, holding $8.87 million worth of shares as of the latest SEC filing.
• Equities analysts are optimistic about Vertiv, with multiple firms raising their target prices and ratings, including Citigroup, which raised its target from $130.00 to $149.00.
• Vertiv recently increased its dividend yield to 14.0%, up from 1.0%, with a payout ratio of 7.18%, signaling strong financial health.

State of New Jersey Common Pension Fund D cut its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 7.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,890 shares of the company's stock after selling 9,457 shares during the period. State of New Jersey Common Pension Fund D's holdings in Vertiv were worth $8,873,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VRT. Mariner LLC raised its holdings in shares of Vertiv by 10.9% in the 4th quarter. Mariner LLC now owns 51,870 shares of the company's stock worth $5,894,000 after buying an additional 5,097 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Vertiv in the 4th quarter worth approximately $17,465,000. Forum Financial Management LP acquired a new position in shares of Vertiv in the 4th quarter worth approximately $307,000. Capital World Investors raised its holdings in shares of Vertiv by 7.3% in the 4th quarter. Capital World Investors now owns 11,438 shares of the company's stock worth $1,299,000 after buying an additional 774 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of Vertiv by 26.3% in the 4th quarter. MML Investors Services LLC now owns 38,803 shares of the company's stock worth $4,408,000 after buying an additional 8,087 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VRT shares. Citigroup increased their target price on Vertiv from $130.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Wall Street Zen upgraded Vertiv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Roth Capital increased their price target on Vertiv from $100.00 to $157.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Morgan Stanley restated an "overweight" rating on shares of Vertiv in a research report on Sunday, August 10th. Finally, Bank of America increased their price target on Vertiv from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $144.06.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 41,654 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the sale, the insider owned 18,848 shares of the company's stock, valued at approximately $2,529,590.08. This trade represents a 68.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the sale, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.01% of the company's stock.

Vertiv Stock Up 0.3%

NYSE:VRT opened at $132.86 on Monday. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $155.84. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $50.74 billion, a P/E ratio of 63.57, a P/E/G ratio of 1.17 and a beta of 1.77. The stock's fifty day simple moving average is $128.12 and its 200-day simple moving average is $105.09.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.12. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $0.67 EPS. The firm's revenue was up 35.1% on a year-over-year basis. Equities research analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. This represents a yield of 14.0%. 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 7.18%.

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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