Vertiv (NYSE:VRT) Stock Price Up 0.8% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price was up 0.8% on Wednesday . The company traded as high as $119.57 and last traded at $118.74. Approximately 1,725,805 shares traded hands during trading, a decline of 79% from the average daily volume of 8,057,917 shares. The stock had previously closed at $117.74.

Analyst Ratings Changes

Several research analysts have recently weighed in on VRT shares. Oppenheimer lifted their price objective on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Jefferies Financial Group started coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Evercore ISI boosted their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho raised their price target on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Vertiv presently has an average rating of “Moderate Buy” and an average target price of $140.09.

Vertiv Stock Performance

The firm has a market cap of $44.62 billion, a P/E ratio of 79.25, a PEG ratio of 1.29 and a beta of 1.61. 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 company’s 50-day moving average is $122.12 and its two-hundred day moving average is $99.60.

Vertiv (NYSE:VRT) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, equities analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were issued a $0.0375 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the sale, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Anchor Investment Management LLC bought a new position in Vertiv during the second quarter valued at $26,000. Krane Funds Advisors LLC purchased a new position in shares of Vertiv during the 3rd quarter valued at $29,000. Global Trust Asset Management LLC bought a new position in shares of Vertiv during the 3rd quarter worth $30,000. Mark Sheptoff Financial Planning LLC increased its holdings in Vertiv by 200.0% in 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 during the last quarter. Finally, Brooklyn Investment Group bought a new stake in Vertiv in the 3rd quarter valued at about $30,000. 89.92% of the stock is owned by institutional investors.

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.