Ontario Teachers Pension Plan Board Takes Position in Vertiv Holdings Co (NYSE:VRT)

Ontario Teachers Pension Plan Board bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 16,243 shares of the company’s stock, valued at approximately $1,327,000.

Several other institutional investors have also recently added to or reduced their stakes in VRT. Norges Bank acquired a new stake in shares of Vertiv during the fourth quarter worth approximately $185,339,000. Coatue Management LLC increased its holdings in Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares in the last quarter. Vanguard Group Inc. raised its position in Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Vertiv by 85.2% in the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Vertiv during the fourth quarter worth $43,037,000. 89.92% of the stock is owned by institutional investors.

Vertiv Stock Up 3.3 %

Shares of VRT traded up $2.86 on Tuesday, hitting $90.71. The company’s stock had a trading volume of 1,195,856 shares, compared to its average volume of 8,405,051. The firm’s fifty day moving average price is $93.39 and its 200-day moving average price is $79.28. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. Vertiv Holdings Co has a fifty-two week low of $25.09 and a fifty-two week high of $109.27. The firm has a market capitalization of $33.96 billion, a price-to-earnings ratio of 84.46, a P/E/G ratio of 1.24 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. On average, equities research analysts expect that Vertiv Holdings Co will post 2.44 EPS for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. Vertiv’s payout ratio is 9.62%.

Insider Activity

In related news, Director Doherty Philip O’ sold 488,705 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.68, for a total value of $45,781,884.40. Following the sale, the director now owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction that occurred on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the sale, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Doherty Philip O’ sold 488,705 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the completion of the transaction, the director now directly owns 11,835,476 shares of the company’s stock, valued at approximately $1,108,747,391.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,162,739 shares of company stock valued at $400,713,362. 5.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on VRT. Mizuho upped their price target on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Evercore ISI lifted their target price on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Oppenheimer upped their price target on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. lifted their price objective on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Bank of America lifted their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.11.

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.