State of Michigan Retirement System Takes Position in Vertiv Holdings Co (NYSE:VRT)

State of Michigan Retirement System bought a new position in Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 68,400 shares of the company’s stock, valued at approximately $7,771,000.

Several other large investors have also recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after buying an additional 4,558,306 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after acquiring an additional 2,860,181 shares during the last quarter. Castle Hook Partners LP boosted its stake in shares of Vertiv by 215.6% during the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after purchasing an additional 1,273,746 shares during the period. Whale Rock Capital Management LLC bought a new position in Vertiv during the 3rd quarter valued at about $110,517,000. Finally, Blue Whale Capital LLP purchased a new stake in Vertiv in the 3rd quarter worth about $93,481,000. Institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VRT. Melius lowered Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research report on Tuesday, January 28th. TD Cowen boosted their price objective on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Oppenheimer increased their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Citigroup boosted their target price on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley initiated coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.14.

Vertiv Price Performance

NYSE VRT opened at $87.78 on Thursday. The company has a market cap of $33.43 billion, a PE ratio of 68.58, a P/E/G ratio of 1.07 and a beta of 1.71. The firm’s 50 day moving average price is $116.43 and its 200-day moving average price is $110.63. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. Vertiv Holdings Co has a 52-week low of $62.40 and a 52-week high of $155.84.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm posted $0.56 EPS. Sell-side analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Company 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.