New York State Common Retirement Fund Decreases Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

New York State Common Retirement Fund lessened its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 193,221 shares of the company’s stock after selling 11,900 shares during the quarter. New York State Common Retirement Fund’s holdings in Vertiv were worth $21,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Creative Planning grew its position in Vertiv by 20.2% in the 3rd quarter. Creative Planning now owns 43,618 shares of the company’s stock worth $4,340,000 after purchasing an additional 7,341 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Vertiv by 42.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,163 shares of the company’s stock worth $613,000 after acquiring an additional 1,830 shares during the period. Signaturefd LLC increased its position in Vertiv by 17.1% during the third quarter. Signaturefd LLC now owns 6,567 shares of the company’s stock valued at $653,000 after acquiring an additional 957 shares during the last quarter. Eastern Bank bought a new position in Vertiv in the third quarter valued at about $202,000. Finally, Private Advisor Group LLC boosted its position in Vertiv by 65.3% in the third quarter. Private Advisor Group LLC now owns 60,934 shares of the company’s stock worth $6,062,000 after purchasing an additional 24,068 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on VRT shares. UBS Group assumed coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target for the company. Citigroup upped their target price on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley began coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 price target on the stock. The Goldman Sachs Group upped their price objective on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Mizuho lifted their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. The trade was a 81.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jan Van Dokkum sold 38,647 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.39, for a total value of $5,271,064.33. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. The trade was a 60.72 % decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is owned by company insiders.

Vertiv Stock Performance

NYSE VRT opened at $95.92 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a twelve month low of $61.25 and a twelve month high of $155.84. The business has a 50-day moving average price of $120.90 and a 200-day moving average price of $109.46. The firm has a market cap of $36.00 billion, a price-to-earnings ratio of 74.93, a price-to-earnings-growth ratio of 1.10 and a beta of 1.64.

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

About Vertiv

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.