State of New Jersey Common Pension Fund D Has $9.51 Million Stock Position in Vertiv Holdings Co (NYSE:VRT)

State of New Jersey Common Pension Fund D raised its position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,898 shares of the company's stock after purchasing an additional 20,801 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Vertiv worth $9,505,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Vertiv by 182.4% during the third quarter. FMR LLC now owns 47,236,496 shares of the company's stock worth $1,757,198,000 after buying an additional 30,511,907 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Vertiv by 12.1% during the third quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company's stock worth $1,176,590,000 after buying an additional 3,417,710 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Vertiv by 1,032.5% during the third quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company's stock worth $84,031,000 after buying an additional 2,059,431 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Vertiv during the third quarter worth $69,482,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Vertiv by 2,223.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,801,467 shares of the company's stock worth $67,015,000 after purchasing an additional 1,723,936 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Trading Up 6.8 %

VRT traded up $5.78 during trading on Thursday, reaching $90.35. 19,945,187 shares of the stock traded hands, compared to its average volume of 8,059,959. The stock's 50-day moving average is $75.35 and its 200 day moving average is $56.87. Vertiv Holdings Co has a 12 month low of $13.06 and a 12 month high of $94.39. The stock has a market capitalization of $34.51 billion, a PE ratio of 76.57, a P/E/G ratio of 1.26 and a beta of 1.59. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business's quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Vertiv Holdings Co will post 2.36 earnings per share for the current year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv's dividend payout ratio is currently 8.47%.

Wall Street Analyst Weigh In

VRT has been the topic of several analyst reports. Evercore ISI boosted their price objective on shares of Vertiv from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday. Mizuho boosted their price objective on shares of Vertiv from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Vertiv from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday. Bank of America boosted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, March 18th. Finally, Oppenheimer boosted their price objective on shares of Vertiv from $96.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.78.

Insider Activity

In other news, CAO Scott Cripps sold 56,594 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Stephen Liang sold 306,196 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the sale, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Scott Cripps sold 56,594 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Company insiders own 5.62% of the company's stock.

Vertiv Company 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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