Clearstead Advisors LLC lifted its position in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) by 155.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,757 shares of the company’s stock after buying an additional 4,716 shares during the quarter. Clearstead Advisors LLC’s holdings in Vertiv were worth $1,170,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Vertiv by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 38,833,036 shares of the company’s stock worth $5,858,352,000 after acquiring an additional 826,281 shares in the last quarter. State Street Corp raised its holdings in shares of Vertiv by 5.7% in the 2nd quarter. State Street Corp now owns 8,269,839 shares of the company’s stock valued at $1,061,930,000 after purchasing an additional 442,937 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Vertiv by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,686,778 shares of the company’s stock worth $856,082,000 after purchasing an additional 219,970 shares during the period. Invesco Ltd. boosted its stake in shares of Vertiv by 20.9% during the second quarter. Invesco Ltd. now owns 5,931,488 shares of the company’s stock valued at $761,662,000 after purchasing an additional 1,024,634 shares in the last quarter. Finally, Norges Bank purchased a new position in Vertiv during the second quarter valued at approximately $538,132,000. 89.92% of the stock is currently owned by institutional investors.
Vertiv Stock Performance
Shares of NYSE VRT opened at $261.85 on Thursday. The company has a 50 day simple moving average of $191.06 and a two-hundred day simple moving average of $170.12. The stock has a market cap of $100.18 billion, a price-to-earnings ratio of 76.79, a PEG ratio of 1.27 and a beta of 2.08. The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $264.86.
Wall Street Analyst Weigh In
Several brokerages have issued reports on VRT. Mizuho increased their target price on Vertiv from $198.00 to $290.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. The Goldman Sachs Group upped their price objective on Vertiv from $204.00 to $277.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. dropped their price objective on Vertiv from $230.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Weiss Ratings upgraded shares of Vertiv from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Citigroup increased their price target on shares of Vertiv from $220.00 to $286.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.28.
Read Our Latest Report on Vertiv
Vertiv 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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