Vertiv (NYSE:VRT) Stock Price Up 0.6% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price traded up 0.6% on Tuesday . The company traded as high as $113.70 and last traded at $112.82. 2,071,214 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,299,957 shares. The stock had previously closed at $112.11.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho raised their price target on shares of Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. The Goldman Sachs Group cut their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Evercore ISI increased their price objective on shares of Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Oppenheimer increased their price objective on shares of Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Jefferies Financial Group began coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $112.44.

Vertiv Price Performance

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 108.48, a PEG ratio of 1.42 and a beta of 1.59. The company has a 50 day moving average of $91.09 and a 200 day moving average of $89.51.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is currently 9.62%.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

A number of hedge funds and other institutional investors have recently bought and sold shares of VRT. Vanguard Group Inc. boosted its position in shares of Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Vertiv by 303.1% during 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 acquiring an additional 3,591,903 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv in the 2nd quarter worth approximately $331,091,000. Westfield Capital Management Co. LP increased its stake in Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Vertiv by 17.7% during the first quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after purchasing an additional 451,830 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.