Norges Bank Acquires Position in Vertiv Holdings Co (NYSE:VRT)

Norges Bank recently disclosed its acquisition of a new position in Vertiv Holdings Co (NYSE:VRT) during the fourth quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. This institutional investor acquired 3,448,439 shares of Vertiv's stock, with an estimated value of around $391,777,000. As per the most recent filing, Norges Bank holds approximately 0.92% of Vertiv.

Recent Institutional Transactions

Other institutional investors have also made moves regarding Vertiv shares recently. Vanguard Group Inc. increased its investment in the company by 3.5% during the fourth quarter, bringing its total ownership to 36,356,089 shares, valued at about $4,130,415,000 after acquiring an additional 1,244,780 shares. Similarly, Jennison Associates LLC boosted its holdings by 68.6% in the same period, owning now 7,754,347 shares worth approximately $880,971,000 after buying 3,153,932 additional shares.

State Street Corp augmented its position by 4.2% in the prior quarter, resulting in ownership of 7,635,081 shares valued at $759,614,000 after a purchase of 308,704 shares. Geode Capital Management LLC increased its holdings by 7.4%, owning 5,951,784 shares valued at $592,433,000 after an additional purchase of 408,054 shares. Wellington Management Group LLP lifted its position significantly by 271.0% in the last quarter, now owning 3,915,446 shares worth approximately $389,548,000 after acquiring an additional 2,860,181 shares. Currently, about 89.92% of the stock is held by hedge funds and other institutional investors.

Analyst Forecasts for Vertiv

Several equity analysts have recently shared their views on Vertiv stocks. Royal Bank of Canada initiated coverage on Vertiv shares, setting an "outperform" rating with a price target of $121.00. Morgan Stanley also began coverage, giving an "overweight" rating along with a price target of $150.00. Citigroup increased its price goal for Vertiv from $141.00 to $155.00 while rating it as a "buy". Evercore ISI revised its target on Vertiv from $150.00 to $145.00, maintaining an "outperform" stance. Melius Research reaffirmed a "hold" rating with a price target of $125.00. Overall, four research analysts rate the stock as a hold, while eleven have rated it as a buy, leading to an average rating of "Moderate Buy" with a price target of $135.33 according to MarketBeat.com.

Current Stock Performance

Shares of Vertiv experienced a slight drop, trading at $74.32 as of Friday. The stock has fluctuated, with a 52-week low of $62.40 and a high of $155.84. Vertiv Holdings Co has a market capitalization of $28.30 billion, with a price-to-earnings ratio of 58.06. The company’s 50-day and 200-day moving averages are at $102.74 and $111.48, respectively. It also maintains a quick ratio of 1.02, a current ratio of 1.65, and a debt-to-equity ratio of 1.19.

Earnings and Dividend Updates

Vertiv released its earnings report on February 12th, revealing earnings of $0.99 per share for the quarter, surpassing analysts' estimates of $0.84 by $0.15. The company recorded a net margin of 6.19% and a return on equity of 61.41%. Analysts estimate that Vertiv will post about 3.59 earnings per share for the current year.

The firm recently announced a quarterly dividend, which was distributed on March 27th. Shareholders who were on record as of March 18th received a dividend of $0.0375. The ex-dividend date was also March 18th, resulting in an annual dividend of $0.15 and a yield of 0.20%. The current dividend payout ratio stands at 11.72%.

About Vertiv Holdings Co

Vertiv Holdings Co specializes in the design, manufacturing, and servicing of critical digital infrastructure technologies and lifecycle services catering to data centers, communication networks, and both commercial and industrial environments across the Americas, Asia Pacific, Europe, the Middle East, and Africa.

Norges, Bank, Vertiv