Barclays Initiates Coverage on Vertiv (NYSE:VRT)

Barclays assumed coverage on shares of Vertiv (NYSE:VRT) in a research note published on Thursday, Marketbeat.com reports. The brokerage issued an equal weight rating and a $142.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. TD Cowen raised their price target on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. UBS Group began coverage on Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. JPMorgan Chase & Co. raised their target price 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. The Goldman Sachs Group boosted their target price on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup raised their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.09.

Vertiv Trading Up 0.6 %

Shares of VRT opened at $125.78 on Thursday. The business’s 50-day moving average price is $120.45 and its 200-day moving average price is $98.16. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv has a twelve month low of $44.31 and a twelve month high of $145.67. The stock has a market cap of $47.21 billion, a PE ratio of 83.85, a P/E/G ratio of 1.29 and a beta of 1.61.

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

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Insider Buying and Selling at Vertiv

In other news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction dated 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 transaction, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock worth $23,105,682 over the last quarter. 5.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vertiv

Several hedge funds have recently made changes to their positions in VRT. Krane Funds Advisors LLC acquired a new position in Vertiv in the third quarter valued at $29,000. Anchor Investment Management LLC purchased a new position in shares of Vertiv during the 2nd quarter worth approximately $26,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv in the third quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC raised its position in Vertiv by 200.0% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Vertiv during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

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.