DnB Asset Management AS Has $10.80 Million Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

DnB Asset Management AS decreased its position in Vertiv Holdings Co (NYSE:VRT) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,099 shares of the company’s stock after selling 1,573 shares during the period. DnB Asset Management AS’s holdings in Vertiv were worth $10,804,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Vertiv by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company’s stock valued at $128,000 after purchasing an additional 84 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in Vertiv by 2.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company’s stock valued at $420,000 after buying an additional 85 shares during the period. Accurate Wealth Management LLC boosted its stake in Vertiv by 4.1% in the fourth quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock valued at $254,000 after acquiring an additional 87 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in Vertiv by 61.3% during the 4th quarter. Tradewinds Capital Management LLC now owns 292 shares of the company’s stock worth $33,000 after acquiring an additional 111 shares during the period. Finally, Bouvel Investment Partners LLC raised its position in shares of Vertiv by 1.1% during the 4th quarter. Bouvel Investment Partners LLC now owns 11,097 shares of the company’s stock valued at $1,261,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 2.6 %

NYSE:VRT opened at $74.32 on Friday. The stock has a 50-day simple moving average of $102.74 and a 200 day simple moving average of $111.48. Vertiv Holdings Co has a 52-week low of $62.40 and a 52-week high of $155.84. The company has a market cap of $28.30 billion, a PE ratio of 58.06, a PEG ratio of 1.07 and a beta of 1.71. 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 (NYSE:VRT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the firm earned $0.56 EPS. On average, sell-side analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv’s dividend payout ratio is currently 11.72%.

Analyst Upgrades and Downgrades

VRT has been the subject of a number of analyst reports. Royal Bank of Canada started coverage on Vertiv in a research note on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective for the company. Morgan Stanley initiated coverage on Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 target price for the company. Evercore ISI cut their price target on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Melius cut shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday, January 28th. Finally, Citigroup increased their target price on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.33.

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.