Vertiv (NYSE:VRT) Trading Up 4.5%

Vertiv Holdings Co (NYSE:VRT) was up 4.5% during mid-day trading on Thursday . The stock traded as high as $93.62 and last traded at $91.57. Approximately 3,402,189 shares were traded during trading, a decline of 60% from the average daily volume of 8,510,436 shares. The stock had previously closed at $87.66.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VRT shares. The Goldman Sachs Group decreased their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and set a $105.00 price target on shares of Vertiv in a report on Thursday, August 15th. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $95.00 to $92.00 in a research note on Wednesday, August 7th. Finally, TD Cowen lifted their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $102.13.

Vertiv Price Performance

The company has a market cap of $34.64 billion, a P/E ratio of 88.05, a PEG ratio of 1.08 and a beta of 1.58. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The firm’s 50-day moving average is $79.41 and its two-hundred day moving average is $85.04.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. Analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.11%. Vertiv’s payout ratio is currently 9.62%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Vertiv

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC purchased a new position in shares of Vertiv in the first quarter worth $25,000. Raleigh Capital Management Inc. raised its stake in Vertiv by 79.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after acquiring an additional 252 shares during the last quarter. Atticus Wealth Management LLC purchased a new stake in Vertiv during the 1st quarter valued at about $27,000. Mather Group LLC. increased its holdings in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Vertiv in the first quarter valued at about $34,000. 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.