Teacher Retirement System of Texas Acquires 48,791 Shares of Vertiv Holdings Co. (NYSE:VRT)

Teacher Retirement System of Texas boosted its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 1,462.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,127 shares of the company's stock after acquiring an additional 48,791 shares during the period. Teacher Retirement System of Texas' holdings in Vertiv were worth $3,764,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VRT. Massachusetts Financial Services Co. MA purchased a new position in Vertiv in the fourth quarter worth about $597,379,000. Norges Bank bought a new stake in Vertiv during the fourth quarter valued at approximately $391,777,000. Arrowstreet Capital Limited Partnership grew its position in Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock valued at $379,101,000 after buying an additional 1,928,275 shares during the period. Vanguard Group Inc. grew its position in Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after buying an additional 1,244,780 shares during the period. Finally, Wellington Management Group LLP grew its position in Vertiv by 25.3% during the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after buying an additional 990,361 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Price Performance

Vertiv stock remained flat at $126.26 during mid-day trading on Tuesday. 6,634,071 shares of the company were exchanged, compared to its average volume of 9,588,825. The stock has a market capitalization of $48.12 billion, a P/E ratio of 73.41, a price-to-earnings-growth ratio of 1.27 and a beta of 1.75. The firm's 50-day moving average price is $110.06 and its 200 day moving average price is $103.37. 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 52 week low of $53.60 and a 52 week high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, sell-side analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VRT. JPMorgan Chase & Co. boosted their target price on shares of Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Cowen restated a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Evercore ISI restated an "outperform" rating and set a $150.00 target price (up from $100.00) on shares of Vertiv in a research report on Tuesday, May 27th. Citigroup upped their price target on shares of Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Roth Mkm assumed coverage on shares of Vertiv in a research report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price target for the company. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $131.69.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 5,500 shares of the company'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 transaction, the insider directly owned 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the company's 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 transaction, the executive vice president owned 9,551 shares in the company, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.01% of the company's stock.

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.