Vertiv (NYSE:VRT) Shares Up 0.8% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price was up 0.8% during trading on Wednesday . The company traded as high as $119.57 and last traded at $118.74. Approximately 1,725,805 shares were traded during trading, a decline of 79% from the average daily volume of 8,057,917 shares. The stock had previously closed at $117.74.

Wall Street Analyst Weigh In

Several analysts recently commented on VRT shares. Barclays began coverage on Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price target for the company. TD Cowen increased their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Evercore ISI lifted 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. Finally, Mizuho lifted their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Vertiv presently has a consensus rating of “Moderate Buy” and an average target price of $140.09.

Vertiv Price Performance

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 business has a fifty day moving average of $121.88 and a 200-day moving average of $99.33. The firm has a market capitalization of $44.57 billion, a P/E ratio of 79.16, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61.

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

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.13%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s payout ratio is currently 6.67%.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,527 shares of company stock valued at $23,105,682 over the last quarter. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several large investors have recently made changes to their positions in the business. Krane Funds Advisors LLC bought a new position in shares of Vertiv in the 3rd quarter valued at about $29,000. Anchor Investment Management LLC acquired a new position in Vertiv in the 2nd quarter worth $26,000. Global Trust Asset Management LLC bought a new stake in Vertiv in the 3rd quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC lifted its position in Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Vertiv in the 3rd quarter valued at approximately $30,000. 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.