Vertiv (NYSE:VRT) Stock Price Down 3.1%

Vertiv Holdings Co (NYSE:VRT)’s share price dropped 3.1% during trading on Friday . The stock traded as low as $96.72 and last traded at $97.55. Approximately 2,730,011 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 8,514,530 shares. The stock had previously closed at $100.62.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Evercore ISI reiterated an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a research note on Thursday, August 15th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, TD Cowen boosted their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has a consensus rating of “Buy” and an average target price of $102.13.

Vertiv Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a 50-day moving average of $80.54 and a 200 day moving average of $86.02. The stock has a market cap of $36.66 billion, a PE ratio of 94.91, a P/E/G ratio of 1.26 and a beta of 1.58.

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

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

Insider Buying and Selling at Vertiv

In other Vertiv 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 transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertiv

Several large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Vertiv by 296.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after acquiring an additional 9,870 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Vertiv by 58.8% during the fourth quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock worth $26,312,000 after buying an additional 202,766 shares in the last quarter. Williamson Legacy Group LLC purchased a new stake in shares of Vertiv during the fourth quarter worth approximately $1,645,000. Swiss National Bank lifted its stake in Vertiv by 1.3% in the first quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock worth $88,628,000 after acquiring an additional 14,100 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Vertiv by 1,019.3% during the 1st quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock worth $326,000 after acquiring an additional 3,649 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.