State of New Jersey Common Pension Fund D Decreases Holdings in Vertiv Holdings Co (NYSE:VRT)

State of New Jersey Common Pension Fund D decreased its holdings in Vertiv Holdings Co (NYSE:VRT) by 35.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 136,361 shares of the company’s stock after selling 75,200 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Vertiv were worth $11,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after acquiring an additional 1,766,784 shares during the period. Coatue Management LLC increased its position in Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares in the last quarter. Norges Bank bought a new stake in shares of Vertiv during the 4th quarter valued at $185,339,000. Finally, Westfield Capital Management Co. LP boosted its stake in Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. Hedge funds and other institutional investors 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 business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 10,542 shares in the company, valued at $843,254.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Evercore ISI restated an “outperform” rating and issued a $105.00 price target on shares of Vertiv in a research note on Thursday, August 15th. Finally, TD Cowen raised their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $96.22.

Vertiv Stock Down 1.2 %

Shares of VRT opened at $85.74 on Friday. The firm has a market capitalization of $32.10 billion, a P/E ratio of 82.44, a P/E/G ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 12-month low of $34.60 and a 12-month high of $109.27. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The firm has a fifty day moving average price of $79.75 and a 200-day moving average price of $84.51.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. Equities research analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. 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.