New York State Common Retirement Fund Has $51.43 Million Stock Holdings in Vertiv Holdings Co. $VRT

New York State Common Retirement Fund boosted its holdings in shares of Vertiv Holdings Co. (NYSE:VRT) by 73.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,921 shares of the company’s stock after acquiring an additional 144,200 shares during the quarter. New York State Common Retirement Fund owned 0.09% of Vertiv worth $51,431,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Abundance Wealth Counselors boosted its holdings in Vertiv by 313.7% in the third quarter. Abundance Wealth Counselors now owns 10,165 shares of the company’s stock valued at $1,533,000 after acquiring an additional 7,708 shares during the last quarter. Union Bancaire Privee UBP SA lifted its position in shares of Vertiv by 35.5% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 272,608 shares of the company’s stock worth $41,126,000 after purchasing an additional 71,361 shares during the period. KLP Kapitalforvaltning AS boosted its stake in shares of Vertiv by 5.5% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 143,100 shares of the company’s stock valued at $21,588,000 after purchasing an additional 7,400 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Vertiv by 100.1% during the second quarter. Nordea Investment Management AB now owns 3,246,769 shares of the company’s stock worth $415,132,000 after buying an additional 1,624,456 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Vertiv by 134.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 291,036 shares of the company’s stock worth $37,372,000 after buying an additional 167,152 shares during the period. Institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on VRT. Wolfe Research lowered shares of Vertiv from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 9th. Morgan Stanley boosted their price objective on Vertiv from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Oppenheimer raised their target price on Vertiv from $190.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Vertiv in a report on Thursday, January 15th. Finally, Citigroup increased their price target on Vertiv from $198.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.89.

Insider Activity

In other news, EVP Stephen Liang sold 5,501 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $170.48, for a total transaction of $937,810.48. Following the completion of the sale, the executive vice president directly owned 4,050 shares of the company’s stock, valued at $690,444. The trade was a 57.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.63% of the stock is owned by corporate insiders.

Vertiv Price Performance

Shares of VRT opened at $195.17 on Friday. The business’s fifty day moving average is $172.67 and its 200 day moving average is $158.47. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $202.45. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83. The stock has a market cap of $74.62 billion, a P/E ratio of 73.65, a P/E/G ratio of 1.19 and a beta of 2.06.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.1%. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, November 25th. Vertiv’s payout ratio is 9.43%.

About Vertiv

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.