Hillsdale Investment Management Inc. purchased a new stake in Vertiv Holdings Co. (NYSE:VRT – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,600 shares of the company’s stock, valued at approximately $1,153,000.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Vertiv in the fourth quarter valued at $808,701,000. Marshall Wace LLP raised its position in shares of Vertiv by 265.6% in the fourth quarter. Marshall Wace LLP now owns 2,670,007 shares of the company’s stock valued at $432,568,000 after purchasing an additional 1,939,749 shares during the period. Alkeon Capital Management LLC lifted its stake in shares of Vertiv by 178.2% during the 4th quarter. Alkeon Capital Management LLC now owns 2,003,110 shares of the company’s stock worth $324,524,000 after buying an additional 1,283,110 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Vertiv by 49.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,811,114 shares of the company’s stock worth $361,033,000 after buying an additional 930,158 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Vertiv during the 3rd quarter worth about $125,331,000. 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 company has a market cap of $117.21 billion, a price-to-earnings ratio of 76.67, a PEG ratio of 1.31 and a beta of 2.03. Vertiv Holdings Co. has a fifty-two week low of $118.70 and a fifty-two week high of $379.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.15 and a current ratio of 1.49. The stock has a fifty day moving average price of $322.36 and a 200-day moving average price of $268.37.
Vertiv Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th. Vertiv’s dividend payout ratio (DPR) is currently 6.28%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Oppenheimer upped their price target on shares of Vertiv from $330.00 to $353.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Jefferies Financial Group restated a “hold” rating and set a $260.00 price objective (down from $280.00) on shares of Vertiv in a research report on Tuesday, March 31st. Robert W. Baird set a $370.00 price objective on shares of Vertiv in a research note on Wednesday. Roth Capital reissued a “buy” rating and issued a $355.00 price objective on shares of Vertiv in a report on Thursday, May 21st. Finally, Mizuho set a $380.00 target price on shares of Vertiv in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $343.50.
Read Our Latest Stock Report on VRT
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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