Vertiv (NYSE:VRT) Trading Up 2.8% After Dividend Announcement

Vertiv Holdings Co (NYSE:VRT) shot up 2.8% during trading on Monday following a dividend announcement from the company. The stock traded as high as $125.84 and last traded at $124.24. 1,534,066 shares were traded during mid-day trading, a decline of 81% from the average session volume of 8,142,675 shares. The stock had previously closed at $120.87.

The newly announced dividend which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s dividend payout ratio is 6.67%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup lifted their price target on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America lifted their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group dropped their price objective 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. Finally, TD Cowen lifted their price objective on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $125.40.

Vertiv Stock Performance

The stock has a market capitalization of $46.19 billion, a PE ratio of 82.03, a PEG ratio of 1.31 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The business’s 50 day moving average is $106.34 and its 200 day moving average is $93.93.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. On average, equities research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vertiv

Several large investors 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. Mather Group LLC. raised its stake in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC bought a new position in shares of Vertiv during the 3rd quarter worth approximately $30,000. Finally, Mark Sheptoff Financial Planning LLC raised its stake in shares of Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

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.