State of Michigan Retirement System Buys Shares of 68,400 Vertiv Holdings Co (NYSE:VRT)

State of Michigan Retirement System purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 68,400 shares of the company’s stock, valued at approximately $7,771,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fifth Third Bancorp increased its position in Vertiv by 8.1% during the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company’s stock valued at $128,000 after buying an additional 84 shares in the last quarter. Accurate Wealth Management LLC grew its stake in shares of Vertiv by 4.1% during the fourth quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock worth $254,000 after acquiring an additional 87 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of Vertiv by 61.3% during the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company’s stock valued at $33,000 after acquiring an additional 111 shares in the last quarter. Bouvel Investment Partners LLC raised its position in shares of Vertiv by 1.1% in the 4th quarter. Bouvel Investment Partners LLC now owns 11,097 shares of the company’s stock valued at $1,261,000 after purchasing an additional 117 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Vertiv by 16.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 837 shares of the company’s stock worth $95,000 after purchasing an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Fox Advisors began coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “equal weight” rating on the stock. Mizuho upped their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Melius Research reaffirmed a “hold” rating and set a $125.00 price target on shares of Vertiv in a research report on Tuesday, January 28th. The Goldman Sachs Group increased their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup lifted their target price on 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.14.

Vertiv Stock Performance

VRT opened at $87.78 on Thursday. The firm has a fifty day moving average price of $116.43 and a 200 day moving average price of $110.63. Vertiv Holdings Co has a 1 year low of $62.40 and a 1 year high of $155.84. The stock has a market cap of $33.43 billion, a P/E ratio of 68.58, 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 current ratio of 1.65 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share 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 previous year, the business earned $0.56 earnings per share. Equities research analysts anticipate that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

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.