Vertiv (NYSE:VRT) Shares Up 1.1% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) shares rose 1.1% during mid-day trading on Friday . The stock traded as high as $123.25 and last traded at $122.36. Approximately 2,184,564 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 8,154,559 shares. The stock had previously closed at $121.03.

Analyst Upgrades and Downgrades

VRT has been the subject of a number of research reports. The Goldman Sachs Group cut their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Mizuho raised their price objective on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Citigroup increased their target price on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI boosted their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Bank of America raised their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $125.40.

Vertiv Trading Down 0.9 %

The company has a market cap of $45.04 billion, a P/E ratio of 81.57, a PEG ratio of 1.35 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock’s 50 day moving average is $104.39 and its 200-day moving average is $93.49.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 55.33% and a net margin of 7.72%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. Research analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Announces Dividend

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

Insider Transactions at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

A number of institutional investors and hedge funds have recently modified their holdings of VRT. Clearbridge Investments LLC grew its stake in shares of Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after buying an additional 340,639 shares during the last quarter. Whittier Trust Co. increased its stake in Vertiv by 7.2% in the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after purchasing an additional 8,579 shares during the period. Janney Capital Management LLC bought a new stake in shares of Vertiv during the third quarter worth $8,403,000. Assenagon Asset Management S.A. boosted its stake in shares of Vertiv by 190.7% during the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after purchasing an additional 36,684 shares during the period. Finally, Entropy Technologies LP grew its holdings in shares of Vertiv by 42.4% in the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after purchasing an additional 9,479 shares during the last quarter. Hedge funds and other 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.