Vertiv (NYSE:VRT) Sets New 1-Year High After Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT) shares reached a new 52-week high during trading on Thursday after Mizuho raised their price target on the stock from $92.00 to $110.00. Mizuho currently has an outperform rating on the stock. Vertiv traded as high as $115.83 and last traded at $115.83, with a volume of 78211 shares trading hands. The stock had previously closed at $111.69.

Several other analysts have also recently commented on the company. Oppenheimer lifted their price target on Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Monday. Evercore ISI lifted their price target on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Bank of America lifted their price target on Vertiv from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group reduced their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $112.44.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in Vertiv by 296.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock worth $634,000 after acquiring an additional 9,870 shares in the last quarter. Clearbridge Investments LLC lifted its position in Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after acquiring an additional 340,639 shares in the last quarter. Swiss National Bank lifted its position in Vertiv by 1.3% during the 1st 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 in the last quarter. Acadian Asset Management LLC lifted its position 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. Finally, Covea Finance acquired a new position in Vertiv during the 3rd quarter worth approximately $3,870,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Up 2.3 %

The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average of $89.49 and a 200 day moving average of $88.98. The stock has a market capitalization of $42.78 billion, a price-to-earnings ratio of 109.88, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 50.79% and a net margin of 6.93%. Vertiv’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. On average, sell-side analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is 9.62%.

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.