Norges Bank Takes $185.34 Million Position in Vertiv Holdings Co (NYSE:VRT)

Norges Bank acquired a new position in Vertiv Holdings Co (NYSE:VRT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,858,827 shares of the company’s stock, valued at approximately $185,339,000.

A number of other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC bought a new position in Vertiv during the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Vertiv during the 4th quarter valued at $38,000. Quadrant Capital Group LLC grew its holdings in shares of Vertiv by 24.7% in the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock worth $41,000 after acquiring an additional 170 shares during the period. TFC Financial Management Inc. bought a new stake in shares of Vertiv in the fourth quarter worth $42,000. Finally, Clearstead Advisors LLC purchased a new stake in Vertiv during the third quarter valued at $38,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of NYSE:VRT opened at $100.18 on Thursday. The firm has a market cap of $37.50 billion, a price-to-earnings ratio of 96.33, a P/E/G ratio of 1.44 and a beta of 1.55. The firm has a fifty day moving average price of $86.95 and a 200 day moving average price of $64.83. Vertiv Holdings Co has a fifty-two week low of $15.75 and a fifty-two week high of $104.76. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Vertiv Holdings Co will post 2.42 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is 9.62%.

Insider Transactions at Vertiv

In related news, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the sale, the insider now owns 19,452 shares in the company, valued at $1,836,074.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Vertiv news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anders Karlborg sold 46,206 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total value of $4,331,812.50. Following the sale, the executive vice president now directly owns 23,003 shares in the company, valued at $2,156,531.25. The disclosure for this sale can be found here. Insiders have sold 3,426,331 shares of company stock valued at $312,577,246 in the last ninety days. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on VRT. The Goldman Sachs Group boosted their price target on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Bank of America increased their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Oppenheimer lifted their target price on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Mizuho upped their price target on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Finally, Evercore ISI lifted their price objective on Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

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.