Sterling Capital Management LLC Purchases 9,744 Shares of Vertiv Holdings Co (NYSE:VRT)

by · The Markets Daily

Sterling Capital Management LLC raised its position in Vertiv Holdings Co (NYSE:VRT – Free Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,563 shares of the company’s stock after purchasing an additional 9,744 shares during the quarter. Sterling Capital Management LLC’s holdings in Vertiv were worth $10,630,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv during the fourth quarter worth $597,379,000. Norges Bank purchased a new position in Vertiv in the 4th quarter worth about $391,777,000. Jennison Associates LLC lifted its holdings in Vertiv by 68.6% during the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock valued at $880,971,000 after buying an additional 3,153,932 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Vertiv by 136.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company’s stock valued at $379,101,000 after buying an additional 1,928,275 shares during the period. Finally, Vanguard Group Inc. grew its stake in Vertiv by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock worth $4,130,415,000 after acquiring an additional 1,244,780 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VRT. Melius Research reaffirmed a “hold” rating and set a $125.00 price target on shares of Vertiv in a research note on Tuesday, January 28th. Morgan Stanley initiated coverage on Vertiv in a report on Monday, January 6th. They issued an “overweight” rating and a $150.00 target price for the company. The Goldman Sachs Group cut their target price on shares of Vertiv from $135.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday. Melius downgraded shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada started coverage on shares of Vertiv in a report on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

Get Our Latest Stock Analysis on Vertiv

Vertiv Trading Down 7.1 %

Shares of NYSE:VRT opened at $67.66 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The firm has a market capitalization of $25.76 billion, a P/E ratio of 52.86, a P/E/G ratio of 1.07 and a beta of 1.71. The business’s 50-day moving average is $90.00 and its 200 day moving average is $109.72. Vertiv Holdings Co has a 1 year low of $53.60 and a 1 year high of $155.84.

Vertiv (NYSE:VRT – Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter in the prior year, the company earned $0.56 EPS. On average, research analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.22%. Vertiv’s payout ratio is currently 11.72%.

About Vertiv

(Free Report)

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.

Further Reading

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