Prudential Financial Inc. Increases Stock Position in Vertiv Holdings Co (NYSE:VRT)

Prudential Financial Inc. grew its position in shares of Vertiv Holdings Co (NYSE:VRT) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 581,871 shares of the company’s stock after purchasing an additional 58,101 shares during the quarter. Prudential Financial Inc. owned approximately 0.16% of Vertiv worth $66,106,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sheets Smith Investment Management purchased a new position in Vertiv during the 4th quarter worth approximately $1,522,000. Vanguard Group Inc. boosted its holdings in shares of Vertiv by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock valued at $4,130,415,000 after acquiring an additional 1,244,780 shares during the period. LPL Financial LLC grew its position in shares of Vertiv by 18.4% during the fourth quarter. LPL Financial LLC now owns 608,384 shares of the company’s stock worth $69,119,000 after acquiring an additional 94,542 shares during the last quarter. Optimum Investment Advisors increased its holdings in shares of Vertiv by 30.0% in the 4th quarter. Optimum Investment Advisors now owns 1,950 shares of the company’s stock valued at $222,000 after acquiring an additional 450 shares during the period. Finally, Harbor Advisors LLC purchased a new stake in Vertiv in the 4th quarter valued at $227,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of VRT opened at $93.78 on Tuesday. The company has a market capitalization of $35.71 billion, a PE ratio of 73.27, a P/E/G ratio of 1.07 and a beta of 1.71. Vertiv Holdings Co has a 52-week low of $62.40 and a 52-week high of $155.84. The company has a 50-day simple moving average of $106.85 and a 200-day simple moving average of $111.55. 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 (NYSE:VRT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $0.56 earnings per share. Equities research analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Tuesday, March 18th. Vertiv’s dividend payout ratio is currently 11.72%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VRT. Evercore ISI lowered their price objective on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Melius cut Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, January 28th. Melius Research reaffirmed a “hold” rating and set a $125.00 price objective on shares of Vertiv in a research note on Tuesday, January 28th. Morgan Stanley began coverage on Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 target price on the stock. Finally, Fox Advisors initiated coverage on Vertiv in a research note on Monday, January 6th. They set an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.07.

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.