Vertiv (NYSE:VRT) Trading 2% Higher

Vertiv Holdings Co (NYSE:VRT)’s share price rose 2% during mid-day trading on Thursday . The stock traded as high as $105.25 and last traded at $104.32. Approximately 2,484,551 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 8,452,728 shares. The stock had previously closed at $102.28.

Analysts Set New Price Targets

VRT has been the subject of several research analyst 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 note on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Evercore ISI reissued an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. Finally, TD Cowen upped their price target on Vertiv from $89.00 to $93.00 and gave the company 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, the company has a consensus rating of “Buy” and an average target price of $102.13.

Vertiv Trading Down 0.0 %

The stock has a market cap of $38.28 billion, a P/E ratio of 100.31, a PEG ratio of 1.26 and a beta of 1.58. The business’s 50 day simple moving average is $81.65 and its 200 day simple moving average is $86.88. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

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

Vertiv Dividend Announcement

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

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares in the last quarter. Coatue Management LLC increased its holdings in shares of Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Vertiv in the 2nd quarter valued at $331,091,000. Finally, Westfield Capital Management Co. LP increased its stake in shares of Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after buying an additional 1,563,466 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

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.