Vertiv (NYSE:VRT) Stock Price Down 4.4%

Vertiv Holdings Co (NYSE:VRT) shares dropped 4.4% on Wednesday . The company traded as low as $87.65 and last traded at $87.70. Approximately 1,730,420 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 8,369,514 shares. The stock had previously closed at $91.72.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup increased their price target on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group raised their price target on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a report on Friday, May 17th. Mizuho boosted their price objective on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Evercore ISI raised their target price on shares of Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and an average target price of $92.11.

Vertiv Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The company’s fifty day moving average price is $93.60 and its two-hundred day moving average price is $73.78. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 83.11, a PEG ratio of 1.34 and a beta of 1.56.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. Vertiv’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 EPS. On average, equities research analysts forecast that Vertiv Holdings Co will post 2.42 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s payout ratio is presently 9.62%.

Insider Buying and Selling

In other Vertiv news, EVP Anders Karlborg sold 46,206 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the transaction, the executive vice president now directly owns 23,003 shares in the company, valued at $2,156,531.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Vertiv news, EVP Anders Karlborg sold 46,206 shares of the business’s 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 transaction, the executive vice president now owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Doherty Philip O’ sold 9,529 shares of Vertiv stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now directly owns 6,882,859 shares in the company, valued at $752,296,488.70. The disclosure for this sale can be found here. Insiders have sold 4,162,739 shares of company stock valued at $400,713,362 over the last 90 days. 5.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Vertiv in the fourth quarter worth approximately $185,339,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Vertiv by 12.1% during the third quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock worth $1,176,590,000 after buying an additional 3,417,710 shares during the period. Coatue Management LLC raised its stake in Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after buying an additional 2,249,353 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Vertiv by 1,032.5% in the third quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company’s stock valued at $84,031,000 after buying an additional 2,059,431 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Company 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.