Vertiv (NYSE:VRT) Trading 3.3% Higher Following Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT)’s stock price traded up 3.3% during mid-day trading on Friday after TD Cowen raised their price target on the stock from $93.00 to $115.00. TD Cowen currently has a buy rating on the stock. Vertiv traded as high as $114.87 and last traded at $113.71. 2,276,383 shares traded hands during trading, a decline of 73% from the average session volume of 8,357,734 shares. The stock had previously closed at $110.03.

VRT has been the topic of several other reports. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group decreased their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Mizuho raised their price target on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Oppenheimer raised their target price on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and a consensus price target of $122.11.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the 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 sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several hedge funds have recently modified their holdings of VRT. Anchor Investment Management LLC bought a new position in shares of Vertiv during the 2nd quarter worth approximately $26,000. Atticus Wealth Management LLC purchased a new position in Vertiv in the first quarter worth $27,000. Mather Group LLC. increased its position in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at $29,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the 3rd quarter worth $30,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Trading Up 1.9 %

The company has a 50 day moving average of $92.92 and a two-hundred day moving average of $89.97. The stock has a market capitalization of $41.98 billion, a PE ratio of 107.83, a P/E/G ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Sell-side analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. Vertiv’s payout ratio is 9.62%.

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.