Vertiv (NYSE:VRT) Stock Price Up 3.1% After Analyst Upgrade

Shares of Vertiv Holdings Co (NYSE:VRT) rose 3.1% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $92.00 to $110.00. Mizuho currently has an outperform rating on the stock. Vertiv traded as high as $111.36 and last traded at $110.85. Approximately 2,216,638 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 8,343,659 shares. The stock had previously closed at $107.47.

Several other equities analysts have also recently issued reports on the company. TD Cowen upped their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. The Goldman Sachs Group reduced their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Oppenheimer upped their price objective on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday. Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Bank of America upped their price objective on Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $112.44.

Insiders Place Their Bets

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 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Vertiv by 296.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after purchasing an additional 9,870 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after acquiring an additional 340,639 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Vertiv by 1.3% in the 1st quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock valued at $88,628,000 after acquiring an additional 14,100 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Vertiv by 1,019.3% in the 1st quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock valued at $326,000 after acquiring an additional 3,649 shares during the last quarter. Finally, Covea Finance bought a new position in shares of Vertiv in the 3rd quarter valued at about $3,870,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Trading Up 2.3 %

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The stock’s fifty day moving average is $89.49 and its 200 day moving average is $88.98. The stock has a market cap of $42.78 billion, a P/E ratio of 109.88, a P/E/G ratio of 1.42 and a beta of 1.59.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is currently 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.