Vertiv (NYSE:VRT) Stock Price Up 6.5%

Vertiv Holdings Co (NYSE:VRTGet Free Report)’s share price rose 6.5% on Wednesday . The stock traded as high as $96.36 and last traded at $95.34. Approximately 11,453,474 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 9,462,681 shares. The stock had previously closed at $89.55.

Analysts Set New Price Targets

VRT has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Vertiv from $103.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Bank of America upped their target price on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. upped their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Mizuho upped their target price on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Oppenheimer upped their target price on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.11.

Get Our Latest Research Report on VRT

Vertiv Price Performance

The firm’s fifty day simple moving average is $92.82 and its 200 day simple moving average is $72.16. The firm has a market cap of $35.69 billion, a P/E ratio of 91.67, a P/E/G ratio of 1.30 and a beta of 1.56. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34.

Vertiv (NYSE:VRTGet Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. As a group, analysts forecast that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Monday, June 17th. Vertiv’s dividend payout ratio is 9.62%.

Insider Activity

In other news, Director Doherty Philip O’ sold 488,705 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the sale, the director now directly owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Doherty Philip O’ sold 488,705 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the sale, the director now directly owns 11,835,476 shares of the company’s stock, valued at approximately $1,108,747,391.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anders Karlborg sold 46,206 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the sale, the executive vice president now directly owns 23,003 shares in the company, valued at $2,156,531.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,162,739 shares of company stock worth $400,713,362. 5.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Vertiv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new stake in Vertiv in the 1st quarter worth about $25,000. Atticus Wealth Management LLC purchased a new position in shares of Vertiv during the first quarter worth approximately $27,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Vertiv during the first quarter worth approximately $34,000. RiverPark Advisors LLC purchased a new position in shares of Vertiv during the first quarter worth approximately $35,000. Finally, ORG Partners LLC purchased a new position in shares of Vertiv during the first quarter worth approximately $37,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Company Profile

(Get Free Report)

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.

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