Vertiv Holdings Co (NYSE:VRT) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 129.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,126 shares of the company's stock after acquiring an additional 40,120 shares during the period. Lazard Asset Management LLC's holdings in Vertiv were worth $8,080,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Vertiv by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after acquiring an additional 1,244,780 shares in the last quarter. Jennison Associates LLC raised its position in shares of Vertiv by 68.6% during the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock valued at $880,971,000 after acquiring an additional 3,153,932 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Vertiv by 1.7% during 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv during the 4th quarter valued at approximately $597,379,000. Finally, Wellington Management Group LLP raised its position in shares of Vertiv by 25.3% during the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after acquiring an additional 990,361 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Trading Up 3.4%

Shares of VRT stock opened at $109.13 on Thursday. The stock has a 50-day simple moving average of $81.68 and a 200 day simple moving average of $106.15. Vertiv Holdings Co has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The stock has a market capitalization of $41.59 billion, a P/E ratio of 85.26, a P/E/G ratio of 1.07 and a beta of 1.70. 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 (NYSE:VRT - Get Free Report) last announced its 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 business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the business posted $0.43 earnings per share. The company's quarterly revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts expect that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.14%. Vertiv's dividend payout ratio is currently 8.72%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider now owns 18,847 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. Company insiders own 5.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Cowen reaffirmed a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Morgan Stanley dropped their target price on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Evercore ISI dropped their target price on Vertiv from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, January 17th. Melius Research reaffirmed a "hold" rating and issued a $125.00 target price on shares of Vertiv in a research report on Tuesday, January 28th. Finally, KGI Securities assumed coverage on Vertiv in a research report on Thursday, April 24th. They issued a "hold" rating on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.38.

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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