Fmr LLC Reduces Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Fmr LLC reduced its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,544,591 shares of the company’s stock after selling 643,950 shares during the period. Fmr LLC owned approximately 3.08% of Vertiv worth $1,311,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRT. Vanguard Group Inc. increased its holdings in shares of Vertiv by 3.5% during 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 in the last quarter. Jennison Associates LLC grew its position in Vertiv by 68.6% during the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after purchasing an additional 3,153,932 shares during the last quarter. State Street Corp increased its stake in Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after purchasing an additional 308,704 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Vertiv by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company’s stock worth $688,260,000 after buying an additional 99,181 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv during the fourth quarter worth $597,379,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Trading Down 11.9 %

VRT stock opened at $59.42 on Monday. 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 52-week low of $51.42 and a 52-week high of $155.84. The company’s 50-day simple moving average is $95.23 and its 200-day simple moving average is $111.10. The firm has a market cap of $22.63 billion, a P/E ratio of 46.43, a PEG ratio of 1.07 and a beta of 1.71.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (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 quarter in the prior year, the company earned $0.56 EPS. As a group, equities analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv’s payout ratio is presently 11.72%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Evercore ISI reduced their target price on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Barclays reduced their price objective on Vertiv from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Friday. Melius lowered Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research report on Tuesday, January 28th. Fox Advisors initiated coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada initiated coverage on shares of Vertiv in a research note on Friday, March 7th. They issued an “outperform” rating and a $121.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $134.67.

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.