Vertiv (NYSE:VRT) Stock Price Up 1.1% – Here’s Why

Vertiv Holdings Co (NYSE:VRT)’s share price rose 1.1% during trading on Friday . The stock traded as high as $123.25 and last traded at $122.36. Approximately 2,184,564 shares were traded during trading, a decline of 73% from the average daily volume of 8,154,559 shares. The stock had previously closed at $121.03.

Analyst Ratings Changes

VRT has been the subject of several recent research reports. The Goldman Sachs Group decreased their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Citigroup lifted their target price on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group began coverage on shares of Vertiv in a report on Wednesday. They set a “buy” rating and a $155.00 price target for the company. Bank of America boosted their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, TD Cowen raised their price target on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $125.40.

Vertiv Trading Down 0.1 %

The business has a fifty day moving average of $105.37 and a two-hundred day moving average of $93.68. The firm has a market cap of $45.37 billion, a price-to-earnings ratio of 80.58, a PEG ratio of 1.35 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 annualized dividend and a dividend yield of 0.08%. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after purchasing an additional 408,054 shares during the last quarter. Vestcor Inc raised its holdings in Vertiv by 155.6% in the third quarter. Vestcor Inc now owns 39,734 shares of the company’s stock valued at $3,953,000 after buying an additional 24,189 shares during the period. M&T Bank Corp lifted its position in Vertiv by 6.5% during the third quarter. M&T Bank Corp now owns 35,911 shares of the company’s stock valued at $3,573,000 after buying an additional 2,192 shares in the last quarter. Barclays PLC lifted its position in Vertiv by 51.4% during the third quarter. Barclays PLC now owns 431,586 shares of the company’s stock valued at $42,940,000 after buying an additional 146,463 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in Vertiv by 36.2% during the third quarter. Continuum Advisory LLC now owns 1,481 shares of the company’s stock worth $147,000 after buying an additional 394 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

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.