Canada Pension Plan Investment Board Takes $17.47 Million Position in Vertiv Holdings Co (NYSE:VRT)

Canada Pension Plan Investment Board purchased a new stake in Vertiv Holdings Co (NYSE:VRT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 153,729 shares of the company’s stock, valued at approximately $17,465,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock valued at $4,130,415,000 after purchasing an additional 1,244,780 shares during the last quarter. Jennison Associates LLC grew its stake in Vertiv by 68.6% in 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 during the last quarter. Geode Capital Management LLC raised its holdings in Vertiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company’s stock worth $688,260,000 after acquiring an additional 99,181 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Vertiv during the 4th quarter worth $597,379,000. Finally, Wellington Management Group LLP grew its position in shares of Vertiv by 25.3% in the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company’s stock valued at $557,349,000 after purchasing an additional 990,361 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group dropped their price target on Vertiv from $135.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Roth Mkm initiated coverage on shares of Vertiv in a research note on Tuesday, April 8th. They set a “buy” rating and a $75.00 target price for the company. Evercore ISI reduced their price target on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Royal Bank of Canada initiated coverage on shares of Vertiv in a report on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective on the stock. Finally, Melius cut shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.94.

Vertiv Stock Performance

VRT stock opened at $73.24 on Monday. The company has a market cap of $27.89 billion, a P/E ratio of 57.22, a price-to-earnings-growth ratio of 1.07 and a beta of 1.71. Vertiv Holdings Co has a twelve month low of $53.60 and a twelve month high of $155.84. The business’s fifty day moving average is $84.24 and its 200-day moving average is $108.59. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter in the previous year, the business earned $0.56 EPS. Equities research analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Announces Dividend

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

About Vertiv

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.