Allianz SE Acquires Shares in Vertiv Holdings Co

In the fourth quarter, Allianz SE announced that it has acquired a new position in Vertiv Holdings Co (NYSE:VRT - Free Report) as per its recent filing with the Securities and Exchange Commission. The firm purchased 5,370 shares of Vertiv stock, which is valued at around $624,000.

Other institutional investors and hedge funds have also been active in buying and selling shares of Vertiv. For instance, Vanguard Group Inc. expanded its stake in the company by 3.5% during the fourth quarter, now holding 36,356,089 shares worth approximately $4.13 billion. This was achieved with an addition of 1,244,780 shares in the last quarter.

Similarly, Jennison Associates LLC increased its holdings in Vertiv by a substantial 68.6% in the same period, bringing its total to 7,754,347 shares valued at about $881 million after acquiring an extra 3,153,932 shares. State Street Corp also raised its stake by 4.2% during the third quarter, now owning 7,635,081 shares valued at $759 million after purchasing an additional 308,704 shares.

Geode Capital Management LLC boosted its position in Vertiv by 7.4% in the third quarter, with a total of 5,951,784 shares valued at roughly $592 million after buying 408,054 additional shares. Wellington Management Group LLP notably increased its stake by 271.0% within the same period, now owning 3,915,446 shares valued at approximately $390 million after acquiring 2,860,181 additional shares. As a result, institutional investors control approximately 89.92% of Vertiv's stock.

Vertiv Stock Performance

The stock of Vertiv (NYSE:VRT - Get Free Report) opened at $74.32 on a recent Monday. It currently shows a fifty-day moving average of $102.74 and a two-hundred-day moving average of $111.69. The company has a market capitalization of $28.30 billion, with a price-to-earnings (P/E) ratio of 58.06 and a P/E/G ratio of 1.07. Over the past year, Vertiv has ranged from a low of $62.40 to a high of $155.84. The company's debt-to-equity ratio stands at 1.19, with a current ratio of 1.65 and a quick ratio of 1.02.

Vertiv Announces Dividend

On March 27, Vertiv declared a quarterly dividend, which was paid to shareholders of record as of March 18. The dividend amount was $0.0375 per share, leading to an annualized yield of 0.20%. Currently, Vertiv's payout ratio is at 11.72%.

Analysts Set New Price Targets

Recently, different research firms provided insights regarding Vertiv’s stock. Morgan Stanley started coverage with an "overweight" rating and set a price target of $150.00. Fox Advisors also initiated coverage, but issued an "equal weight" rating. Evercore ISI reduced their price target for the company from $150.00 to $145.00 while maintaining an "outperform" rating. Melius, however, lowered Vertiv from a "buy" to a "hold" rating with a target price of $125.00. Lastly, Royal Bank of Canada initiated coverage at an "outperform" rating with a price target of $121.00. Overall, four analysts have rated the stock as holding, while eleven have given a buy rating, resulting in an average rating of "Moderate Buy" with a target price of approximately $135.33.

Vertiv Profile

Vertiv Holdings Co designs, manufactures, and services critical digital infrastructure technologies and lifecycle services for data centers, communication networks, and commercial and industrial environments, serving markets across the Americas, Asia Pacific, Europe, the Middle East, and Africa.

Further Reading

This information serves to provide a broad perspective on the recent movements and analyses surrounding Vertiv Holdings Co, giving investors insights into the company’s stock performance and outlook.

Allianz, Vertiv, Investment