Vertiv (NYSE:VRT) Trading Down 4.5% After Insider Selling

Vertiv Holdings Co (NYSE:VRT)’s stock price fell 4.5% on Wednesday after an insider sold shares in the company. The company traded as low as $124.52 and last traded at $125.81. 2,940,270 shares were traded during mid-day trading, a decline of 64% from the average session volume of 8,187,053 shares. The stock had previously closed at $131.74.

Specifically, Director Jan Van Dokkum sold 38,647 shares of Vertiv stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total value of $5,271,064.33. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $3,409,750. The trade was a 60.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the sale, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Oppenheimer lifted their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Mizuho boosted their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Citigroup raised their target price on Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, UBS Group assumed coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Trading Down 4.5 %

The business has a 50-day moving average of $112.73 and a 200-day moving average of $95.67. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock has a market cap of $47.22 billion, a price-to-earnings ratio of 83.87, a PEG ratio of 1.36 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.52 EPS. The firm’s revenue was up 19.0% on a year-over-year basis. As a group, research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. Vertiv’s dividend payout ratio is 6.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VRT. Bayesian Capital Management LP acquired a new stake in shares of Vertiv in the first quarter worth about $456,000. Jacobs Levy Equity Management Inc. acquired a new stake in Vertiv in the 1st quarter worth approximately $3,018,000. California State Teachers Retirement System boosted its position in Vertiv by 5.8% during the first quarter. California State Teachers Retirement System now owns 579,672 shares of the company’s stock worth $47,342,000 after purchasing an additional 31,839 shares during the period. Redwood Investment Management LLC acquired a new position in Vertiv during the first quarter valued at approximately $638,000. Finally, Comerica Bank raised its position in shares of Vertiv by 29.4% in the first quarter. Comerica Bank now owns 436,413 shares of the company’s stock valued at $35,642,000 after purchasing an additional 99,269 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.