Maryland State Retirement & Pension System Boosts Position in Vertiv Holdings Co (NYSE:VRT)

Maryland State Retirement & Pension System increased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 2.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 26,926 shares of the company’s stock after acquiring an additional 748 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Vertiv were worth $2,162,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in VRT. PNC Financial Services Group Inc. lifted its stake in Vertiv by 20.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,335 shares of the company’s stock valued at $124,000 after buying an additional 564 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Vertiv by 534.0% in the third quarter. Lazard Asset Management LLC now owns 26,109 shares of the company’s stock valued at $971,000 after buying an additional 21,991 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Vertiv by 4.2% in the third quarter. Advisors Asset Management Inc. now owns 31,903 shares of the company’s stock valued at $1,187,000 after buying an additional 1,283 shares during the last quarter. Sei Investments Co. lifted its stake in Vertiv by 44.2% in the third quarter. Sei Investments Co. now owns 595,334 shares of the company’s stock valued at $22,147,000 after buying an additional 182,594 shares during the last quarter. Finally, Scotia Capital Inc. purchased a new stake in Vertiv in the third quarter valued at approximately $219,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

VRT stock traded down $0.79 on Friday, reaching $92.63. 1,718,315 shares of the company’s stock were exchanged, compared to its average volume of 8,471,876. The stock has a fifty day moving average of $94.68 and a 200-day moving average of $75.41. Vertiv Holdings Co has a twelve month low of $23.51 and a twelve month high of $109.27. The firm has a market cap of $34.68 billion, a PE ratio of 89.83, a P/E/G ratio of 1.36 and a beta of 1.58. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. Vertiv’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities analysts predict that Vertiv Holdings Co will post 2.43 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. Vertiv’s payout ratio is 9.62%.

Insiders Place Their Bets

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now directly owns 6,882,859 shares in the company, valued at $752,296,488.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the sale, the director now directly owns 6,882,859 shares in the company, valued at $752,296,488.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger Fradin sold 16,667 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total value of $1,731,034.62. Following the completion of the sale, the director now owns 218,333 shares in the company, valued at $22,676,065.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,162,739 shares of company stock worth $400,713,362. 5.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VRT has been the subject of a number of research reports. Oppenheimer boosted their price objective on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Citigroup boosted their target price on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Mizuho boosted their target price on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Evercore ISI boosted their target price on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. boosted their target price on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.11.

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.