Itau Unibanco Holding S.A. reduced its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 98.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 409 shares of the company's stock after selling 23,835 shares during the period. Itau Unibanco Holding S.A.'s holdings in Vertiv were worth $46,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv during the fourth quarter worth approximately $597,379,000. Norges Bank bought a new stake in Vertiv in the 4th quarter valued at $391,777,000. Jennison Associates LLC grew its holdings in Vertiv by 68.6% in the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock valued at $880,971,000 after buying an additional 3,153,932 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Vertiv by 136.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock worth $379,101,000 after buying an additional 1,928,275 shares during the period. Finally, Vanguard Group Inc. raised its stake in Vertiv by 3.5% in the 4th 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 in the last quarter. 89.92% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
VRT has been the subject of several analyst reports. Roth Mkm initiated coverage on Vertiv in a report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price objective for the company. Barclays cut their price target on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Cowen reissued a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. KGI Securities initiated coverage on Vertiv in a research note on Thursday, April 24th. They set a "hold" rating for the company. Finally, The Goldman Sachs Group lowered their price target on Vertiv from $135.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Vertiv currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.38.
Read Our Latest Stock Report on VRT
Vertiv Stock Performance
Shares of Vertiv stock opened at $95.01 on Friday. The stock has a market cap of $36.18 billion, a price-to-earnings ratio of 74.23, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a twelve month low of $53.60 and a twelve month high of $155.84. The company's fifty day moving average is $80.14 and its 200 day moving average is $106.87.
Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business's quarterly revenue was up 24.2% on a year-over-year basis. Sell-side analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current year.
Vertiv Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Tuesday, March 18th. Vertiv's dividend payout ratio is currently 8.72%.
Vertiv Company Profile
(
Free Report)
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.
Further Reading
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