Fidelity Management & Research Co recently announced the acquisition of new stake in Vertiv Holdings Co (NYSE:VRT). The institutional investor has increased its shareholding in the Industrials company by 256.40% to 42.16 million shares with purchase of 30.33 million shares. This fresh investment now brings its stake to 11.05% valued currently at $1.66 billion. In addition, The Vanguard Group, Inc. raised its holdings by 3.4 million to 31.16 million shares. And BlackRock Fund Advisors has lifted its position by 9.87% or 1.14 million shares – to 12.7 million shares.
With over 7.43 million Vertiv Holdings Co (VRT) shares trading Monday and a closing price of $47.63 on the day, the dollar volume was approximately $353.96 million. The shares have shown a positive half year performance of 125.63% and its price on 12/11/23 gained nearly 1.04%. Currently, there are 377.37M common shares owned by the public and among those 348.27M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for VRT have a consensus price objective of $51.27. The analysts have set the share’s price value over the next 12 months at a high of $58.00 and a low of $39.00. The average price target is 7.1% above its recent price level and a downside to the estimated low will see the stock lose -22.13% over that period. But an upside of 17.88% will see the stock hit the forecast high price target while median target price for the stock is $52.00.
Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 71,620 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 36,384,594 shares.
The top 3 mutual fund holders in Vertiv Holdings Co are Hardman Johnston Global Equity, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Hardman Johnston Global Equity owns 14.45 million shares of the company’s stock, all valued at over $567.28 million. The company bought an additional 14.45 million shares recently to bring their total holdings to about 3.79% of the shares outstanding. Vanguard Total Stock Market ETF bought 17812.0 shares to see its total holdings expand to 10.71 million shares valued at over $420.67 million and representing 2.81% of the shares outstanding. Vanguard Small Cap Index Fund bought 18992.0 shares to bring its total holdings to over 8.83 million shares at a value of $346.86 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.32% of the shares outstanding.
Shares of Vertiv Holdings Co (NYSE: VRT) opened at $47.33, up $0.19 from a prior closing price of $47.14. The company’s stock has a 5-day price change of 5.00% and 26.61% over the past three months. VRT shares are trading 248.68% year to date (YTD), with the 12-month market performance up to 234.48% higher. It has a 12-month low price of $11.95 and touched a high of $47.25 over the same period. VRT has an average intraday trading volume of 6.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.05%, 16.55%, and 72.45% respectively.
Institutional ownership of Vertiv Holdings Co (NYSE: VRT) shares accounts for 87.93% of the company’s 377.37M shares outstanding. Mutual fund holders own 48.80%, while other institutional holders and individual stakeholders account for 8.87% and 41.07% respectively.
It has a market capitalization of $18.17B and a beta (3y monthly) value of 1.48. The stock’s trailing 12-month PE ratio is 73.13, while the earnings-per-share (ttm) stands at $0.65. The company has a PEG of 1.02 and a Quick Ratio of 1.28 with the debt-to-equity ratio at 1.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.66% over the week and 4.31% over the month.
Analysts forecast that Vertiv Holdings Co (VRT) will achieve an EPS of $Vanguard Information Tech ETF for the current quarter, $470.70 for the next quarter and $ETF for Type. The lowest estimate earnings-per-share for the quarter is $Vertiv Holdings, LLC while analysts give the company a high EPS estimate of $Vaxart, Inc. – Common Stock. Comparatively, EPS for the current quarter was $Vroom, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 228.59%, and 27.49% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Vertiv Holdings Co (VRT) as a “Strong Buy” at a consensus score of 1.18. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 1 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VRT, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on August 02, 2023, with the firm’s price target at $40.
