Hillsdale Investment Management Inc. acquired a new position in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,600 shares of the company’s stock, valued at approximately $1,153,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of VRT. State Street Corp grew its stake in shares of Vertiv by 2.8% during the 4th quarter. State Street Corp now owns 8,694,900 shares of the company’s stock worth $1,408,661,000 after acquiring an additional 235,577 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Vertiv by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 7,065,912 shares of the company’s stock valued at $1,141,723,000 after purchasing an additional 143,821 shares during the last quarter. Invesco Ltd. lifted its position in shares of Vertiv by 2.1% in the fourth quarter. Invesco Ltd. now owns 5,974,205 shares of the company’s stock worth $967,881,000 after purchasing an additional 121,618 shares in the last quarter. Norges Bank acquired a new position in Vertiv during the fourth quarter worth $808,701,000. Finally, Northern Trust Corp boosted its holdings in Vertiv by 3.6% during the fourth quarter. Northern Trust Corp now owns 2,811,745 shares of the company’s stock worth $455,531,000 after purchasing an additional 97,141 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
Vertiv Stock Performance
NYSE VRT opened at $305.16 on Thursday. The firm has a market capitalization of $117.21 billion, a P/E ratio of 76.67, a price-to-earnings-growth ratio of 1.31 and a beta of 2.03. The company has a current ratio of 1.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.69. The firm’s fifty day moving average price is $322.36 and its two-hundred day moving average price is $268.37. Vertiv Holdings Co. has a 1 year low of $118.70 and a 1 year high of $379.93.
Vertiv Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were issued a dividend of $0.0625 per share. The ex-dividend date was Monday, June 15th. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. Vertiv’s dividend payout ratio (DPR) is presently 6.28%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on VRT. Loop Capital began coverage on shares of Vertiv in a research note on Thursday, May 14th. They issued a “buy” rating and a $500.00 price target on the stock. Citigroup increased their price objective on shares of Vertiv from $353.00 to $414.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group restated a “hold” rating and issued a $260.00 price objective (down from $280.00) on shares of Vertiv in a report on Tuesday, March 31st. JPMorgan Chase & Co. lifted their target price on Vertiv from $305.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Finally, BNP Paribas Exane assumed coverage on Vertiv in a report on Tuesday, April 14th. They set an “outperform” rating and a $345.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $343.50.
Read Our Latest Report on Vertiv
Vertiv Company Profile
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.
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