Vertiv (NYSE:VRT – Get Free Report) had its price target increased by analysts at TD Cowen from $115.00 to $141.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 2.50% from the stock’s previous close.
A number of other research firms have also recently issued reports on VRT. Citigroup lifted their target price on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America upped their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Evercore ISI boosted their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho increased their price objective on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv presently has a consensus rating of “Buy” and a consensus price target of $138.50.
Read Our Latest Stock Analysis on Vertiv
Vertiv Trading Down 2.4 %
Vertiv (NYSE:VRT – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. Vertiv’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. Sell-side analysts predict that Vertiv will post 2.69 EPS for the current year.
Insider Transactions at Vertiv
In related 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 transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.01% of the company’s stock.
Institutional Trading of Vertiv
Several hedge funds and other institutional investors have recently bought and sold shares of VRT. State Street Corp grew its position in Vertiv by 4.2% during the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after buying an additional 308,704 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Vertiv by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after acquiring an additional 408,054 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Vertiv by 303.1% in 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 acquiring an additional 3,591,903 shares during the period. Jennison Associates LLC grew its holdings in shares of Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares during the period. 89.92% of the stock is currently 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.
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