Vertiv Holdings Co (NYSE:VRT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Vertiv Holdings Co (NYSE:VRT) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,208 shares of the company’s stock after buying an additional 1,789 shares during the quarter. Principal Financial Group Inc.’s holdings in Vertiv were worth $2,702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after purchasing an additional 9,870 shares during the last quarter. California State Teachers Retirement System raised its stake in Vertiv by 58.8% in the 4th quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock valued at $26,312,000 after purchasing an additional 202,766 shares during the last quarter. Williamson Legacy Group LLC acquired a new position in Vertiv in the 4th quarter valued at about $1,645,000. Quadrant Capital Group LLC raised its stake in Vertiv by 24.7% in 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. Finally, Swiss National Bank raised its stake in Vertiv by 1.3% in the 1st quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock valued at $88,628,000 after purchasing an additional 14,100 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRT. TD Cowen boosted their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group dropped their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Bank of America upped their price objective on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $96.22.

Vertiv Stock Up 9.2 %

Shares of NYSE:VRT opened at $82.39 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $109.27. The stock has a market capitalization of $30.84 billion, a P/E ratio of 79.22, a PEG ratio of 0.94 and a beta of 1.58. The stock has a 50-day simple moving average of $80.01 and a 200-day simple moving average of $84.36.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

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.