New York State Common Retirement Fund boosted its stake in shares of Vertiv Holdings Co. (NYSE:VRT) by 57.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 455,852 shares of the company’s stock after purchasing an additional 166,852 shares during the period. New York State Common Retirement Fund’s holdings in Vertiv were worth $7,895,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in VRT. Treasurer of the State of North Carolina lifted its position in shares of Vertiv by 10.0% during the 3rd quarter. Treasurer of the State of North Carolina now owns 80,460 shares of the company’s stock worth $1,394,000 after buying an additional 7,300 shares during the period. Amalgamated Bank raised its stake in Vertiv by 7.4% in the third quarter. Amalgamated Bank now owns 44,373 shares of the company’s stock valued at $769,000 after buying an additional 3,068 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in Vertiv by 2.9% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 700,794 shares of the company’s stock valued at $12,138,000 after buying an additional 19,655 shares during the period. Arden Trust Co bought a new stake in Vertiv in the third quarter valued at approximately $486,000. Finally, Xponance Inc. raised its stake in Vertiv by 20.8% in the third quarter. Xponance Inc. now owns 22,583 shares of the company’s stock valued at $391,000 after buying an additional 3,883 shares during the period. 88.46% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Vpe Holdings, Llc sold 18,000,000 shares of the stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $16.75, for a total value of $301,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

VRT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their target price on Vertiv from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Zacks Investment Research downgraded Vertiv from a “buy” rating to a “hold” rating in a research report on Friday, October 9th. Vertical Research began coverage on Vertiv in a research report on Wednesday. They set a “buy” rating and a $22.00 price target on the stock. Wolfe Research began coverage on Vertiv in a research report on Tuesday, September 15th. They set an “outperform” rating and a $23.00 price target on the stock. Finally, Evercore ISI began coverage on Vertiv in a research report on Tuesday, September 8th. They set an “outperform” rating and a $21.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $20.00.

NYSE VRT opened at $18.62 on Friday. The business has a fifty day moving average price of $17.92 and a two-hundred day moving average price of $15.26. The company has a debt-to-equity ratio of 6.87, a current ratio of 1.53 and a quick ratio of 1.20. Vertiv Holdings Co. has a fifty-two week low of $4.75 and a fifty-two week high of $19.18. The stock has a market capitalization of $6.12 billion, a PE ratio of -17.57, a PEG ratio of 0.65 and a beta of 1.00.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, November 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.12 billion. As a group, sell-side analysts expect that Vertiv Holdings Co. will post 0.77 earnings per share for the current year.

The company also recently declared a Not Available dividend, which will be paid on Thursday, December 17th. Stockholders of record on Wednesday, December 2nd will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, December 1st.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, provides mission-critical 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. It offers power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure that are integral to the technologies used for various services, including e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming.

Featured Article: What is Cost of Goods Sold (COGS)?

Want to see what other hedge funds are holding VRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertiv Holdings Co. (NYSE:VRT).

Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

Receive News & Ratings for Vertiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertiv and related companies with MarketBeat.com's FREE daily email newsletter.