Mizuho Raises Vertiv (NYSE:VRT) Price Target to $110.00

Vertiv (NYSE:VRT) had its price target upped by Mizuho from $92.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the stock. Bank of America lifted their price objective on shares of Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group reduced their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Oppenheimer lifted their price objective on Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Finally, TD Cowen boosted their price target on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $112.44.

Vertiv Stock Down 1.8 %

Vertiv stock opened at $112.25 on Thursday. The company’s 50-day moving average price is $90.31 and its two-hundred day moving average price is $89.26. 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 market cap of $42.02 billion, a P/E ratio of 107.93, a P/E/G ratio of 1.42 and a beta of 1.59. Vertiv has a twelve month low of $34.60 and a twelve month high of $116.19.

Vertiv (NYSE:VRT) last released 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. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts expect that Vertiv will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Vertiv

A number of hedge funds have recently made changes to their positions in VRT. Brown Lisle Cummings Inc. increased its stake in shares of Vertiv by 27.9% in the third quarter. Brown Lisle Cummings Inc. now owns 19,350 shares of the company’s stock valued at $1,925,000 after buying an additional 4,225 shares during the period. Veracity Capital LLC bought a new stake in Vertiv during the 3rd quarter worth approximately $541,000. Key Client Fiduciary Advisors LLC acquired a new position in Vertiv in the 3rd quarter valued at approximately $316,000. Raymond James & Associates raised its stake in shares of Vertiv by 15.0% during the third quarter. Raymond James & Associates now owns 624,173 shares of the company’s stock valued at $62,099,000 after acquiring an additional 81,434 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Vertiv by 360.1% during the third quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $332,000 after purchasing an additional 2,611 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

About Vertiv

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.