Pinebridge Investments L.P. Purchases 33,811 Shares of Vertiv Holdings Co (NYSE:VRT)

Pinebridge Investments L.P. raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 500.4% during the fourth quarter, Holdings Channel reports. The fund owned 40,568 shares of the company’s stock after buying an additional 33,811 shares during the period. Pinebridge Investments L.P.’s holdings in Vertiv were worth $4,609,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. SOA Wealth Advisors LLC. bought a new position in shares of Vertiv during the 4th quarter valued at $26,000. OLD Second National Bank of Aurora purchased a new stake in Vertiv during the fourth quarter valued at about $30,000. Tradewinds Capital Management LLC grew its stake in shares of Vertiv by 61.3% during the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company’s stock valued at $33,000 after buying an additional 111 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Vertiv in the fourth quarter worth about $34,000. Finally, Pittenger & Anderson Inc. lifted its stake in shares of Vertiv by 92.0% in the 4th quarter. Pittenger & Anderson Inc. now owns 313 shares of the company’s stock valued at $36,000 after acquiring an additional 150 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on VRT. Barclays reduced their price target on Vertiv from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Friday, April 4th. The Goldman Sachs Group lowered their price target on shares of Vertiv from $135.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Roth Capital raised shares of Vertiv to a “strong-buy” rating in a report on Monday, April 7th. Fox Advisors initiated coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “equal weight” rating for the company. Finally, Roth Mkm began coverage on Vertiv in a research note on Tuesday, April 8th. They issued a “buy” rating and a $75.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.38.

Vertiv Stock Up 3.8 %

Shares of NYSE:VRT opened at $87.06 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. Vertiv Holdings Co has a 52-week low of $53.60 and a 52-week high of $155.84. The firm has a market capitalization of $33.15 billion, a P/E ratio of 68.02, a P/E/G ratio of 1.07 and a beta of 1.71. The stock has a 50 day moving average price of $81.05 and a 200-day moving average price of $107.57.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. As a group, equities research analysts anticipate that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.17%. The ex-dividend date was Tuesday, March 18th. Vertiv’s payout ratio is currently 8.72%.

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.