Vertiv (NYSE:VRT) Shares Down 8.5% – Here’s What Happened

Shares of Vertiv Holdings Co (NYSE:VRT) fell 8.5% on Monday . The company traded as low as $121.84 and last traded at $122.50. 2,767,672 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 8,128,790 shares. The stock had previously closed at $133.85.

Analyst Ratings Changes

A number of research firms have recently commented on VRT. Citigroup boosted their price target on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. UBS Group initiated coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target on the stock. Mizuho upped their price objective on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Bank of America increased their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and an average price target of $139.90.

Vertiv Stock Down 3.5 %

The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The stock’s fifty day simple moving average is $119.12 and its two-hundred day simple moving average is $97.69. The stock has a market capitalization of $45.69 billion, a P/E ratio of 81.16, a price-to-earnings-growth ratio of 1.38 and a beta of 1.61.

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

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued 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 of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Transactions at Vertiv

In other news, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This trade represents a 81.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,527 shares of company stock worth $23,105,682. Company insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC increased its stake in Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Vertiv in the 2nd quarter valued at about $331,091,000. Wellington Management Group LLP raised its stake in Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after buying an additional 2,860,181 shares during the period. Castle Hook Partners LP boosted its holdings in Vertiv by 215.6% in the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after acquiring an additional 1,273,746 shares in the last quarter. Finally, Whale Rock Capital Management LLC acquired a new stake in Vertiv in the third quarter valued at approximately $110,517,000. 89.92% of the stock is owned by 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.