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

New York State Common Retirement Fund reduced its stake in Vertiv Holdings Co (NYSE:VRT) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,221 shares of the company’s stock after selling 11,900 shares during the period. New York State Common Retirement Fund owned about 0.05% of Vertiv worth $21,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SOA Wealth Advisors LLC. purchased a new position in shares of Vertiv in the fourth quarter worth $26,000. Global Trust Asset Management LLC bought a new stake in Vertiv in the 3rd quarter worth $30,000. Mark Sheptoff Financial Planning LLC increased its position in shares of Vertiv by 200.0% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Brooklyn Investment Group bought a new position in shares of Vertiv during the third quarter valued at about $30,000. Finally, OLD Second National Bank of Aurora purchased a new stake in shares of Vertiv during the fourth quarter worth about $30,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Trading Down 8.5 %

NYSE:VRT opened at $95.92 on Friday. Vertiv Holdings Co has a one year low of $61.25 and a one year high of $155.84. The company’s 50-day simple moving average is $120.90 and its 200 day simple moving average is $109.46. The firm has a market capitalization of $36.00 billion, a P/E ratio of 74.93, a PEG ratio of 1.10 and a beta of 1.64. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last issued 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 company posted $0.56 EPS. As a group, analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertiv news, Director Jan Van Dokkum sold 38,647 shares of Vertiv 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 completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. The trade was a 60.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

VRT has been the topic of a number of research analyst reports. TD Cowen boosted their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Melius cut Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, January 28th. Barclays dropped their price target on Vertiv from $142.00 to $131.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley initiated coverage on shares of Vertiv in a research report on Monday, January 6th. They issued an “overweight” rating and a $150.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertiv presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

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.