State of New Jersey Common Pension Fund D Purchases 20,801 Shares of Vertiv Holdings Co (NYSE:VRT)

State of New Jersey Common Pension Fund D lifted its position in Vertiv Holdings Co (NYSE:VRT) by 11.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,898 shares of the company’s stock after acquiring an additional 20,801 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Vertiv were worth $9,505,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VRT. First Horizon Advisors Inc. lifted its holdings in Vertiv by 161.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock valued at $25,000 after buying an additional 409 shares in the last quarter. GAMMA Investing LLC bought a new stake in Vertiv during the 4th quarter valued at about $26,000. Clearstead Advisors LLC bought a new stake in Vertiv during the 3rd quarter valued at about $38,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Vertiv in the 4th quarter valued at about $38,000. Finally, TFC Financial Management Inc. bought a new stake in shares of Vertiv in the 4th quarter valued at about $42,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Up 6.8 %

Shares of Vertiv stock traded up $5.78 on Thursday, reaching $90.35. The stock had a trading volume of 19,945,187 shares, compared to its average volume of 8,059,959. The stock has a market capitalization of $34.51 billion, a P/E ratio of 76.57, a P/E/G ratio of 1.26 and a beta of 1.59. Vertiv Holdings Co has a 1 year low of $13.06 and a 1 year high of $94.39. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The company has a 50 day moving average price of $75.35 and a 200 day moving average price of $56.87.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. Vertiv’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, equities research analysts forecast that Vertiv Holdings Co will post 2.36 EPS for the current year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is presently 8.47%.

Insiders Place Their Bets

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on VRT shares. Citigroup boosted their price target on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI boosted their price target on shares of Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday. Oppenheimer boosted their price target on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Bank of America lifted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $76.78.

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.