Norges Bank Purchases New Holdings in Vertiv Holdings Co (NYSE:VRT)

Norges Bank bought a new stake in Vertiv Holdings Co (NYSE:VRT) during the 4th quarter, HoldingsChannel.com reports. The firm bought 3,448,439 shares of the company’s stock, valued at approximately $391,777,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Algert Global LLC acquired a new position in shares of Vertiv during the 3rd quarter worth approximately $518,000. Larson Financial Group LLC boosted its stake in Vertiv by 232.9% during the third quarter. Larson Financial Group LLC now owns 839 shares of the company’s stock worth $83,000 after buying an additional 587 shares during the last quarter. Bank of Montreal Can grew its holdings in Vertiv by 30.5% in the 3rd quarter. Bank of Montreal Can now owns 204,281 shares of the company’s stock valued at $20,103,000 after buying an additional 47,750 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Vertiv by 25.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,306 shares of the company’s stock worth $3,811,000 after acquiring an additional 7,783 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Vertiv during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

VRT has been the subject of several recent analyst reports. Royal Bank of Canada initiated coverage on shares of Vertiv in a research report on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective for the company. Melius Research restated a “hold” rating and set a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. Fox Advisors started coverage on Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating on the stock. Morgan Stanley began coverage on Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 target price for the company. Finally, Evercore ISI decreased their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.33.

Vertiv Trading Down 2.6 %

Shares of VRT stock opened at $74.32 on Friday. The stock has a market capitalization of $28.30 billion, a P/E ratio of 58.06, a price-to-earnings-growth ratio of 1.07 and a beta of 1.71. Vertiv Holdings Co has a fifty-two week low of $62.40 and a fifty-two week high of $155.84. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The company has a 50 day moving average price of $102.74 and a 200 day moving average price of $111.48.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same period in the prior year, the business earned $0.56 earnings per share. Equities research analysts predict that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Tuesday, March 18th. Vertiv’s payout ratio is presently 11.72%.

Vertiv Profile

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.