Melius cut shares of Vertiv (NYSE:VRT – Free Report) from a buy rating to a hold rating in a research report released on Tuesday morning, Marketbeat.com reports. Melius currently has $125.00 target price on the stock.
Several other brokerages have also recently issued reports on VRT. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. UBS Group assumed coverage on shares of Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Mizuho increased their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Evercore ISI cut their price target on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.36.
View Our Latest Research Report on Vertiv
Vertiv Trading Up 3.4 %
Vertiv Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.
Insider Activity
In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares of the company’s stock, valued at $2,562,549.57. The trade was a 81.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock valued at $23,105,682 over the last quarter. Company insiders own 5.01% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Silverleafe Capital Partners LLC bought a new stake in Vertiv during the fourth quarter valued at $4,219,000. Foundations Investment Advisors LLC boosted its position in shares of Vertiv by 7.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock valued at $21,076,000 after acquiring an additional 13,559 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after purchasing an additional 340,639 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after purchasing an additional 8,579 shares in the last quarter. Finally, Janney Capital Management LLC purchased a new stake in Vertiv in the third quarter valued at approximately $8,403,000. 89.92% of the stock is owned by institutional investors.
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.
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