Treasurer of the State of North Carolina Has $1.80 Million Holdings in Vertiv Holdings Co (NYSE:VRT)

Posted by on May 20th, 2023

Treasurer of the State of North Carolina raised its holdings in Vertiv Holdings Co (NYSE:VRT – Get Rating) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 131,769 shares of the company’s stock after buying an additional 1,680 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Vertiv were worth $1,800,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in VRT. UBS Group AG raised its position in shares of Vertiv by 74.7% during the third quarter. UBS Group AG now owns 19,199,629 shares of the company’s stock worth $186,620,000 after purchasing an additional 8,208,427 shares during the period. BlackRock Inc. raised its position in shares of Vertiv by 32.8% during the first quarter. BlackRock Inc. now owns 18,988,356 shares of the company’s stock worth $265,836,000 after purchasing an additional 4,693,256 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Vertiv by 559.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,036,541 shares of the company’s stock worth $39,235,000 after purchasing an additional 3,424,234 shares during the period. Cannell & Co. acquired a new position in shares of Vertiv during the fourth quarter worth approximately $42,149,000. Finally, Alliancebernstein L.P. raised its position in shares of Vertiv by 26.9% during the third quarter. Alliancebernstein L.P. now owns 13,137,369 shares of the company’s stock worth $127,695,000 after purchasing an additional 2,784,350 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Down 2.5 %

Shares of NYSE:VRT opened at $15.56 on Friday. The company has a market capitalization of $5.91 billion, a PE ratio of 51.87, a price-to-earnings-growth ratio of 0.31 and a beta of 1.43. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.69 and a quick ratio of 1.24. The business has a fifty day moving average price of $13.74 and a two-hundred day moving average price of $14.22. Vertiv Holdings Co has a 1 year low of $7.76 and a 1 year high of $17.88.

Vertiv (NYSE:VRT – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.68 billion. Vertiv had a return on equity of 22.92% and a net margin of 1.96%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS. Analysts forecast that Vertiv Holdings Co will post 1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRT. JPMorgan Chase & Co. increased their price target on Vertiv from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Citigroup increased their price target on Vertiv from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Vertiv from $17.00 to $19.00 in a research report on Thursday, February 23rd. Finally, Cowen increased their price target on Vertiv from $20.00 to $22.00 in a research report on Thursday, February 23rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and an average price target of $18.38.

About Vertiv

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Vertiv Holdings Co engages in the design, manufacture, and service of critical digital infrastructure technology that powers, cools, deploys, secures and maintains electronics that process, store and transmit data. It also offers power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure.

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Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

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