Bank of Hawaii reduced its stake in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) by 92.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,000 shares of the company’s stock after selling 23,058 shares during the quarter. Bank of Hawaii’s holdings in Vertiv were worth $324,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. CreativeOne Wealth LLC raised its holdings in shares of Vertiv by 187.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 10,646 shares of the company’s stock worth $1,606,000 after buying an additional 6,947 shares in the last quarter. Lingotto Investment Management LLP acquired a new stake in Vertiv in the fourth quarter valued at about $2,641,000. Sterling Investment Advisors Ltd. grew its position in Vertiv by 26.1% in the fourth quarter. Sterling Investment Advisors Ltd. now owns 22,476 shares of the company’s stock valued at $3,641,000 after acquiring an additional 4,645 shares during the last quarter. Norges Bank bought a new position in Vertiv in the fourth quarter valued at about $808,701,000. Finally, WD Rutherford LLC grew its position in Vertiv by 80.7% in the fourth quarter. WD Rutherford LLC now owns 15,081 shares of the company’s stock valued at $2,443,000 after acquiring an additional 6,734 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.
Vertiv Stock Performance
Vertiv stock opened at $333.49 on Friday. The business has a 50 day moving average of $321.56 and a 200-day moving average of $249.52. Vertiv Holdings Co. has a 1 year low of $110.06 and a 1 year high of $379.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.49 and a quick ratio of 1.15. The company has a market capitalization of $128.10 billion, a P/E ratio of 83.79, a P/E/G ratio of 1.44 and a beta of 2.03.
Vertiv Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. Vertiv’s dividend payout ratio (DPR) is presently 6.28%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on VRT. Morgan Stanley increased their target price on shares of Vertiv from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Roth Mkm reaffirmed a “buy” rating and set a $355.00 price target on shares of Vertiv in a report on Thursday, May 21st. Weiss Ratings cut shares of Vertiv from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Wall Street Zen downgraded shares of Vertiv from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, The Goldman Sachs Group raised their target price on shares of Vertiv from $277.00 to $311.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.39.
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.
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