California Public Employees Retirement System Lowers Stake in Vertiv Holdings Co (NYSE:VRT)

California Public Employees Retirement System lessened its stake in shares of Vertiv Holdings Co (NYSE:VRT – Get Rating) by 15.5% during the 4th quarter, Holdings Channel reports. The fund owned 583,586 shares of the company’s stock after selling 106,871 shares during the period. California Public Employees Retirement System’s holdings in Vertiv were worth $7,972,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of VRT. Swiss National Bank lifted its holdings in shares of Vertiv by 1.9% during the 4th quarter. Swiss National Bank now owns 773,800 shares of the company’s stock valued at $10,570,000 after purchasing an additional 14,500 shares during the last quarter. Arizona State Retirement System raised its stake in Vertiv by 3.9% in the 4th quarter. Arizona State Retirement System now owns 90,432 shares of the company’s stock worth $1,235,000 after acquiring an additional 3,423 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Vertiv by 3.9% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 255,870 shares of the company’s stock worth $3,495,000 after acquiring an additional 9,580 shares during the last quarter. Duality Advisers LP purchased a new position in Vertiv in the 4th quarter worth $1,104,000. Finally, Fox Run Management L.L.C. purchased a new position in Vertiv in the 4th quarter worth $346,000. Institutional investors own 98.59% of the company’s stock.

Vertiv Price Performance

Shares of VRT opened at $15.13 on Wednesday. The business’s 50-day moving average is $13.71 and its two-hundred day moving average is $14.19. The company has a market capitalization of $5.75 billion, a P/E ratio of 50.43, a P/E/G ratio of 0.30 and a beta of 1.43. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.24 and a current ratio of 1.69. Vertiv Holdings Co has a fifty-two week low of $7.76 and a fifty-two week high of $17.88.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup raised their target price on Vertiv from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Cowen raised their target price on Vertiv from $20.00 to $22.00 in a research note on Thursday, February 23rd. JPMorgan Chase & Co. increased their price target on Vertiv from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Vertiv from $17.00 to $19.00 in a research report on Thursday, February 23rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.38.

Vertiv Profile

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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.