Kentucky Retirement Systems Makes New Investment in Vertiv Holdings Co. (NYSE:VRT)

Kentucky Retirement Systems purchased a new position in Vertiv Holdings Co. (NYSE:VRTFree Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,441 shares of the company’s stock, valued at approximately $1,765,000.

A number of other large investors also recently modified their holdings of VRT. North Star Investment Management Corp. lifted its holdings in shares of Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company’s stock worth $30,000 after purchasing an additional 412 shares in the last quarter. Colonial Trust Co SC lifted its stake in shares of Vertiv by 211.9% in the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company’s stock valued at $36,000 after buying an additional 214 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Vertiv in the fourth quarter valued at $37,000. TD Private Client Wealth LLC lifted its stake in shares of Vertiv by 150.7% in the fourth quarter. TD Private Client Wealth LLC now owns 371 shares of the company’s stock valued at $42,000 after buying an additional 223 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in Vertiv in the 1st quarter valued at about $43,000. 89.92% of the stock is currently owned by institutional investors.

Vertiv Stock Performance

Shares of VRT stock opened at $116.53 on Tuesday. The firm has a market cap of $44.41 billion, a price-to-earnings ratio of 67.75, a P/E/G ratio of 1.19 and a beta of 1.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $155.84. The firm’s 50-day simple moving average is $100.30 and its two-hundred day simple moving average is $103.15.

Vertiv (NYSE:VRTGet Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. Vertiv’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, equities analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th will be paid a $0.0375 dividend. The ex-dividend date of this dividend is Monday, June 16th. This is a positive change from Vertiv’s previous dividend of $0.01. This represents a dividend yield of 0.14%. Vertiv’s payout ratio is presently 8.72%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, the executive vice president now directly owns 9,551 shares in the company, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VRT. KGI Securities began coverage on shares of Vertiv in a research report on Thursday, April 24th. They issued a “hold” rating on the stock. The Goldman Sachs Group raised their target price on Vertiv from $106.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Wall Street Zen upgraded Vertiv from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley dropped their price objective on Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup lifted their price objective on shares of Vertiv from $98.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and a consensus target price of $126.69.

Read Our Latest Stock Analysis on Vertiv

Vertiv Profile

(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.

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Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

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