Vertiv (NYSE:VRT) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Vertiv (NYSE:VRT) released its quarterly earnings results on Wednesday. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06, Briefing.com reports. Vertiv had a return on equity of 39.46% and a net margin of 6.71%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year.

Vertiv Trading Up 6.0 %

Shares of NYSE:VRT traded up $5.05 during midday trading on Thursday, reaching $89.62. The company had a trading volume of 11,878,298 shares, compared to its average volume of 7,932,850. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. Vertiv has a 1-year low of $13.06 and a 1-year high of $94.39. The firm has a market cap of $34.23 billion, a price-to-earnings ratio of 75.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59. The company has a fifty day simple moving average of $75.35 and a two-hundred day simple moving average of $56.87.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is 8.47%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VRT shares. JPMorgan Chase & Co. increased their price target on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America raised their target price on Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Citigroup raised their target price on Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Mizuho raised their target price on Vertiv from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, Oppenheimer raised their target price on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.89.

Insider Activity at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Scott Cripps sold 56,594 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by corporate insiders.

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.