Allstate Corp Makes New Investment in Vertiv Holdings Co (NYSE:VRT)

Allstate Corp bought a new position 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 institutional investor bought 10,442 shares of the company’s stock, valued at approximately $1,186,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Vertiv in the fourth quarter worth $391,777,000. Jennison Associates LLC increased its stake in shares of Vertiv by 68.6% in the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after acquiring an additional 3,153,932 shares in the last quarter. Wellington Management Group LLP lifted its position in Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares during the period. Vanguard Group Inc. boosted its stake in Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock worth $4,130,415,000 after acquiring an additional 1,244,780 shares in the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in Vertiv in the third quarter worth about $110,517,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 2.6 %

VRT stock opened at $74.32 on Monday. The company has a market cap of $28.30 billion, a price-to-earnings ratio of 58.06, a P/E/G 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. The business’s 50-day moving average is $102.74 and its two-hundred day moving average is $111.69. Vertiv Holdings Co has a fifty-two week low of $62.40 and a fifty-two week high of $155.84.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm posted $0.56 EPS. As a group, analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on VRT shares. Citigroup boosted their price target on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Melius Research reissued a “hold” rating and issued a $125.00 target price on shares of Vertiv in a research note on Tuesday, January 28th. Evercore ISI lowered their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Barclays cut their price objective on shares of Vertiv from $111.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, Royal Bank of Canada began coverage on shares of Vertiv in a report on Friday, March 7th. They issued an “outperform” rating and a $121.00 target price for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vertiv has a consensus rating of “Moderate Buy” and an average target price of $135.33.

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.