Bank of America Boosts Vertiv (NYSE:VRT) Price Target to $140.00

Vertiv (NYSE:VRT) had its price objective raised by Bank of America from $130.00 to $140.00 in a report published on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

VRT has been the subject of several other research reports. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. TD Cowen raised their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI raised their price target on shares of Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Mizuho lifted their price objective on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Oppenheimer lifted their price objective on shares of Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv has an average rating of “Buy” and an average target price of $122.11.

Vertiv Stock Up 1.9 %

Vertiv stock opened at $112.17 on Thursday. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41. 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 firm has a 50 day moving average price of $93.57 and a 200 day moving average price of $90.26. The company has a market capitalization of $42.08 billion, a PE ratio of 87.63, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Research analysts expect that Vertiv will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is presently 7.81%.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on 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 transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Krane Funds Advisors LLC acquired a new position in Vertiv in the third quarter valued at $29,000. Anchor Investment Management LLC acquired a new position in shares of Vertiv during the second quarter worth about $26,000. Global Trust Asset Management LLC acquired a new position in shares of Vertiv during the third quarter worth about $30,000. Atticus Wealth Management LLC acquired a new position in shares of Vertiv during the first quarter worth about $27,000. Finally, Mather Group LLC. increased its stake in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 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.