Vertiv (NYSE:VRT) Updates Q3 Earnings Guidance

Vertiv (NYSE:VRT) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.65 to $0.69 for the period, compared to the consensus earnings per share estimate of $0.63. The company issued revenue guidance of $1.935 billion to $1.985 billion, compared to the consensus revenue estimate of $1.97 billion. Vertiv also updated its FY 2024 guidance to 2.470-2.530 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VRT. JPMorgan Chase & Co. boosted their price target on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. Oppenheimer boosted their price target on Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Bank of America boosted their price target on Vertiv from $100.00 to $115.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. The Goldman Sachs Group lowered their price objective on Vertiv from $116.00 to $104.00 and set a buy rating on the stock in a research note on Thursday. Finally, Citigroup boosted their price objective on Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $90.78.

Vertiv Trading Down 1.9 %

Shares of Vertiv stock traded down $1.48 during trading hours on Thursday, hitting $77.11. The company’s stock had a trading volume of 14,599,556 shares, compared to its average volume of 8,613,237. Vertiv has a twelve month low of $25.09 and a twelve month high of $109.27. The firm has a fifty day moving average of $92.71 and a 200-day moving average of $79.58. The stock has a market cap of $28.87 billion, a price-to-earnings ratio of 75.65, a P/E/G ratio of 1.32 and a beta of 1.58. 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:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $0.46 EPS. Vertiv’s revenue was up 12.6% on a year-over-year basis. Research analysts forecast that Vertiv will post 2.44 EPS for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s payout ratio is 9.62%.

Insider Buying and Selling

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

About Vertiv

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.