Strs Ohio Sells 49,944 Shares of Vertiv Holdings Co (NYSE:VRT)

Strs Ohio cut its holdings in Vertiv Holdings Co (NYSE:VRT) by 48.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,452 shares of the company’s stock after selling 49,944 shares during the period. Strs Ohio’s holdings in Vertiv were worth $2,519,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of VRT. FMR LLC grew its stake in shares of Vertiv by 182.4% in the third quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after acquiring an additional 30,511,907 shares in the last quarter. Starboard Value LP acquired a new position in shares of Vertiv in the fourth quarter valued at about $230,880,000. BlackRock Inc. grew its stake in shares of Vertiv by 32.8% in the first quarter. BlackRock Inc. now owns 18,988,356 shares of the company’s stock valued at $265,836,000 after acquiring an additional 4,693,256 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Vertiv by 12.1% in the third quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock valued at $1,176,590,000 after acquiring an additional 3,417,710 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Vertiv during the fourth quarter worth about $41,665,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Down 7.4 %

VRT stock opened at $74.99 on Friday. The firm has a 50-day moving average price of $74.33 and a 200-day moving average price of $55.87. The stock has a market capitalization of $28.64 billion, a P/E ratio of 63.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.59. Vertiv Holdings Co has a 12 month low of $11.95 and a 12 month high of $88.69. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.28 EPS. As a group, equities research analysts anticipate that Vertiv Holdings Co will post 2.36 EPS for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were issued a $0.025 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Insider Activity at Vertiv

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VRT shares. Citigroup increased their price objective on shares of Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Evercore ISI increased their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Mizuho increased 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. Oppenheimer started coverage on shares of Vertiv in a research note on Friday, April 5th. They set an “outperform” rating and a $96.00 price objective on the stock. Finally, Bank of America increased 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.56.

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.