Allstate Corp Buys New Shares in Vertiv Holdings Co (NYSE:VRT)

Allstate Corp purchased a new position in Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 10,442 shares of the company’s stock, valued at approximately $1,186,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Vertiv during the fourth quarter worth about $391,777,000. Jennison Associates LLC grew its holdings in Vertiv by 68.6% during the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock valued at $880,971,000 after buying an additional 3,153,932 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after buying an additional 2,860,181 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vertiv by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock worth $4,130,415,000 after buying an additional 1,244,780 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in shares of Vertiv during the third quarter worth $110,517,000. 89.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VRT shares. Evercore ISI reduced their price target on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Morgan Stanley started coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 price target on the stock. Barclays dropped their price objective on shares of Vertiv from $111.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Fox Advisors assumed coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “equal weight” rating on the stock. Finally, Royal Bank of Canada began coverage on Vertiv in a research report on Friday, March 7th. They issued an “outperform” rating and a $121.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.33.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $74.32 on Monday. The firm’s 50 day simple moving average is $102.74 and its 200-day simple moving average is $111.69. 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 one year low of $62.40 and a one year high of $155.84. The firm has a market cap of $28.30 billion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 1.07 and a beta of 1.71.

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

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.20%. The ex-dividend date was Tuesday, March 18th. Vertiv’s payout ratio is 11.72%.

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.