Vertiv (NYSE:VRT) Shares Up 4.1% – Here’s Why

Shares of Vertiv Holdings Co (NYSE:VRT) shot up 4.1% during trading on Tuesday . The stock traded as high as $110.86 and last traded at $110.58. 1,420,950 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 8,238,568 shares. The stock had previously closed at $106.21.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VRT shares. Bank of America upped 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. Evercore ISI increased their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Oppenheimer boosted their price objective on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup lifted their target price on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Mizuho lifted their price target on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $122.11.

Vertiv Trading Up 1.4 %

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 company has a market capitalization of $45.86 billion, a P/E ratio of 81.15, a P/E/G ratio of 1.15 and a beta of 1.58. The firm’s 50-day moving average price is $98.93 and its 200 day moving average price is $91.90.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $0.52 EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, equities research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.08%. Vertiv’s payout ratio is 6.67%.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

Institutional investors have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC bought a new stake in shares of Vertiv in the third quarter valued at $29,000. Anchor Investment Management LLC purchased a new stake in Vertiv in the 2nd quarter worth about $26,000. Global Trust Asset Management LLC purchased a new stake in Vertiv in the 3rd quarter worth about $30,000. Mather Group LLC. raised its stake in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Vertiv during the third quarter valued at about $36,000. 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.