Vertiv (NYSE:VRT) Stock Price Down 1.5% – What’s Next?

Vertiv Holdings Co (NYSE:VRT) was down 1.5% during mid-day trading on Thursday . The company traded as low as $123.30 and last traded at $123.99. Approximately 921,070 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 8,107,292 shares. The stock had previously closed at $125.84.

Wall Street Analyst Weigh In

VRT has been the subject of several recent research reports. Barclays assumed coverage on Vertiv in a report on Thursday. They set an “equal weight” rating and a $142.00 target price for the company. UBS Group started coverage on Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price on the stock. Oppenheimer upped their price target 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. Evercore ISI lifted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho raised their price target 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. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average target price of $140.09.

Vertiv Stock Up 0.6 %

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 $120.45 and its two-hundred day simple moving average is $98.21. The company has a market capitalization of $47.19 billion, a price-to-earnings ratio of 83.82, a P/E/G ratio of 1.29 and a beta of 1.61.

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

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Insider Activity

In related news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the firm’s 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 sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock valued at $23,105,682 over the last three months. Insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

A number of large investors have recently made changes to their positions in the business. State Street Corp increased its stake in Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after buying an additional 308,704 shares during the period. Geode Capital Management LLC grew its holdings in shares of Vertiv by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after acquiring an additional 408,054 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after acquiring an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after acquiring an additional 2,860,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Vertiv during the second quarter valued at $331,091,000. Institutional investors and hedge funds 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.