New York State Common Retirement Fund Sells 135,115 Shares of Vertiv Holdings Co (NYSE:VRT)

New York State Common Retirement Fund cut its holdings in Vertiv Holdings Co (NYSE:VRT) by 39.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 205,121 shares of the company’s stock after selling 135,115 shares during the quarter. New York State Common Retirement Fund’s holdings in Vertiv were worth $20,407,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Anchor Investment Management LLC bought a new stake in shares of Vertiv in the 2nd quarter worth about $26,000. Mather Group LLC. increased its holdings in shares of Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Vertiv in the 3rd quarter worth about $29,000. Global Trust Asset Management LLC bought a new stake in shares of Vertiv in the 3rd quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of Vertiv in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Price Performance

Shares of VRT opened at $106.21 on Tuesday. The company has a 50 day moving average price of $97.48 and a 200-day moving average price of $91.44. Vertiv Holdings Co has a fifty-two week low of $38.68 and a fifty-two week high of $116.41. The stock has a market capitalization of $39.86 billion, a PE ratio of 70.81, a PEG ratio of 1.19 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.00 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The company’s revenue was up 19.0% compared to the same quarter last year. Equities analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. Vertiv’s payout ratio is 6.67%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VRT. Jefferies Financial Group assumed coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Oppenheimer upped their price target on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group cut their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, TD Cowen upped their price target on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Nine research 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 an average target price of $122.11.

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.