Prudential PLC Sells 124,586 Shares of Vertiv Holdings Co (NYSE:VRT)

Prudential PLC decreased its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 66.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 64,079 shares of the company’s stock after selling 124,586 shares during the period. Prudential PLC’s holdings in Vertiv were worth $7,280,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position 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 valued at $4,130,415,000 after purchasing an additional 1,244,780 shares during the last quarter. Jennison Associates LLC grew its holdings 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 in the last quarter. State Street Corp increased its position in Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after buying an additional 308,704 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Vertiv by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company’s stock worth $688,260,000 after buying an additional 99,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv in the fourth quarter valued at about $597,379,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VRT. Fox Advisors started coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “equal weight” rating for the company. Barclays dropped their price target on shares of Vertiv from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Friday. Evercore ISI reduced their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Citigroup lifted their price objective on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada assumed coverage on Vertiv in a report on Friday, March 7th. They set an “outperform” rating and a $121.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.67.

Vertiv Trading Down 11.9 %

VRT opened at $59.42 on Friday. Vertiv Holdings Co has a 1-year low of $55.32 and a 1-year high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The company has a market cap of $22.63 billion, a P/E ratio of 46.43, a PEG ratio of 1.07 and a beta of 1.71. The company’s 50 day moving average is $95.23 and its 200-day moving average is $110.78.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 EPS 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 business earned $0.56 EPS. Equities research analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were given a $0.0375 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.25%. Vertiv’s dividend payout ratio (DPR) is presently 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.