New York State Common Retirement Fund Sells 77,518 Shares of Vertiv Holdings Co (NYSE:VRT)

New York State Common Retirement Fund reduced its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 22.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 267,385 shares of the company’s stock after selling 77,518 shares during the quarter. New York State Common Retirement Fund’s holdings in Vertiv were worth $12,843,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in VRT. Simon Quick Advisors LLC lifted its stake in Vertiv by 1.0% in the fourth quarter. Simon Quick Advisors LLC now owns 20,065 shares of the company’s stock valued at $964,000 after buying an additional 205 shares during the period. Hanseatic Management Services Inc. lifted its position in shares of Vertiv by 0.8% during the 3rd quarter. Hanseatic Management Services Inc. now owns 29,541 shares of the company’s stock valued at $1,099,000 after acquiring an additional 246 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Vertiv by 161.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock valued at $25,000 after acquiring an additional 409 shares during the period. Xponance Inc. boosted its stake in Vertiv by 2.9% during the fourth quarter. Xponance Inc. now owns 14,984 shares of the company’s stock worth $720,000 after acquiring an additional 426 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Vertiv by 20.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,335 shares of the company’s stock worth $124,000 after purchasing an additional 564 shares during the period. 89.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on VRT. Evercore ISI upped their price objective on shares of Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Oppenheimer upped their price target on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised their price objective on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Mizuho boosted their price objective on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday. Finally, Bank of America increased their target price on Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.11.

Insider Transactions at Vertiv

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

Vertiv Stock Up 1.4 %

VRT opened at $94.80 on Tuesday. Vertiv Holdings Co has a fifty-two week low of $14.27 and a fifty-two week high of $95.32. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The company’s 50-day moving average is $77.15 and its 200 day moving average is $58.08. The firm has a market capitalization of $36.21 billion, a P/E ratio of 91.15, a PEG ratio of 1.44 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 EPS. Research analysts expect that Vertiv Holdings Co will post 2.38 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio is presently 9.62%.

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.