Maryland State Retirement & Pension System Buys 748 Shares of Vertiv Holdings Co (NYSE:VRT)

Maryland State Retirement & Pension System raised its stake in Vertiv Holdings Co (NYSE:VRT) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,926 shares of the company’s stock after buying an additional 748 shares during the period. Maryland State Retirement & Pension System’s holdings in Vertiv were worth $2,162,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in VRT. GAMMA Investing LLC bought a new position in shares of Vertiv in the 4th quarter worth $26,000. Raleigh Capital Management Inc. grew its holdings in shares of Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares during the last quarter. Atticus Wealth Management LLC bought a new position in shares of Vertiv during the 1st quarter valued at $27,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Vertiv during the 4th quarter valued at $38,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Vertiv by 24.7% during the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In related news, Director Doherty Philip O’ sold 488,705 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the completion of the transaction, the director now directly owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Vertiv news, Director Doherty Philip O’ sold 488,705 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the completion of the sale, the director now directly owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Anders Karlborg sold 46,206 shares of Vertiv stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the sale, the executive vice president now owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The disclosure for this sale can be found here. Insiders sold a total of 4,162,739 shares of company stock worth $400,713,362 in the last three months. 5.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on VRT. Oppenheimer increased their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Citigroup increased their price target on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Bank of America increased their price target on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Evercore ISI increased their price target on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.11.

Vertiv Trading Down 0.8 %

Shares of NYSE:VRT traded down $0.79 on Friday, hitting $92.63. The company had a trading volume of 1,718,315 shares, compared to its average volume of 8,471,876. The firm’s 50-day simple moving average is $94.68 and its two-hundred day simple moving average is $75.41. Vertiv Holdings Co has a 1 year low of $23.51 and a 1 year high of $109.27. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $34.68 billion, a price-to-earnings ratio of 89.83, a P/E/G ratio of 1.36 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. Vertiv’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. Equities analysts anticipate that Vertiv Holdings Co will post 2.43 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were paid a $0.025 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s payout ratio is 9.62%.

About Vertiv

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.