Vertiv (NYSE:VRT) Given New $131.00 Price Target at Oppenheimer

Vertiv (NYSE:VRT) had its price target raised by Oppenheimer from $121.00 to $131.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

VRT has been the subject of several other research reports. TD Cowen raised their price objective on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI boosted their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. UBS Group began coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Jefferies Financial Group began coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Citigroup boosted their price target on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Up 14.6 %

NYSE:VRT opened at $140.94 on Tuesday. The company has a market cap of $52.90 billion, a PE ratio of 93.96, a PEG ratio of 1.31 and a beta of 1.58. The stock has a 50-day simple moving average of $107.65 and a 200 day simple moving average of $94.27. 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 has a 52-week low of $41.01 and a 52-week high of $141.12.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts expect that Vertiv will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s payout ratio is currently 6.67%.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VRT. ORG Partners LLC boosted its stake in Vertiv by 25.1% in the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after purchasing an additional 92 shares during the period. Allworth Financial LP boosted its stake in Vertiv by 18.6% in the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after purchasing an additional 100 shares during the period. NBC Securities Inc. boosted its stake in Vertiv by 0.9% in the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after purchasing an additional 112 shares during the period. Nvwm LLC boosted its stake in Vertiv by 1.3% in the 3rd quarter. Nvwm LLC now owns 10,035 shares of the company’s stock valued at $998,000 after purchasing an additional 124 shares during the period. Finally, Callan Family Office LLC boosted its stake in Vertiv by 0.9% in the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock valued at $1,491,000 after purchasing an additional 137 shares during the period. 89.92% of the stock is currently 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.