Massachusetts Financial Services Co. MA Buys Shares of 3,824,549 Vertiv Holdings Co (NYSE:VRT)

Massachusetts Financial Services Co. MA bought a new stake in Vertiv Holdings Co (NYSE:VRT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,824,549 shares of the company’s stock, valued at approximately $331,091,000. Massachusetts Financial Services Co. MA owned about 1.02% of Vertiv at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after acquiring an additional 1,766,784 shares during the period. Coatue Management LLC grew its stake in shares of Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after purchasing an additional 2,249,353 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the last quarter. Norges Bank acquired a new position in Vertiv in the fourth quarter valued at about $185,339,000. Finally, Westfield Capital Management Co. LP boosted its holdings in Vertiv by 85.2% during the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after buying an additional 1,563,466 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $86.99 on Tuesday. The company has a market capitalization of $32.56 billion, a P/E ratio of 83.64, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The company’s 50 day moving average price is $79.64 and its two-hundred day moving average price is $84.91.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. On average, analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.025 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VRT has been the subject of a number of recent analyst reports. TD Cowen upped their price target on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Evercore ISI reiterated an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a report on Thursday, August 15th. Finally, The Goldman Sachs Group decreased their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $102.13.

Vertiv Company 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.