Vertiv (NYSE:VRT) PT Raised to $110.00

Vertiv (NYSE:VRT) had its target price increased by Citigroup from $102.00 to $110.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a report on Thursday. Mizuho raised their price target on shares of Vertiv from $50.00 to $56.00 and gave the company a neutral rating in a report on Thursday, February 22nd. Evercore ISI raised their price target on shares of Vertiv from $90.00 to $95.00 and gave the company an outperform rating in a report on Thursday. Bank of America raised their price target on shares of Vertiv from $80.00 to $90.00 and gave the company a buy rating in a report on Monday, March 18th. Finally, Oppenheimer raised their price target on shares of Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv has a consensus rating of Moderate Buy and an average target price of $81.11.

Vertiv Trading Up 3.5 %

Shares of VRT stock opened at $93.49 on Thursday. The firm has a market cap of $35.71 billion, a P/E ratio of 89.89, a PEG ratio of 1.49 and a beta of 1.59. Vertiv has a 1-year low of $13.73 and a 1-year high of $95.32. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The firm’s 50-day simple moving average is $76.51 and its 200-day simple moving average is $57.70.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. As a group, equities analysts forecast that Vertiv will post 2.38 EPS for the current year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Insider Buying and Selling at Vertiv

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

Institutional Trading of Vertiv

A number of hedge funds have recently made changes to their positions in VRT. FMR LLC boosted its holdings in Vertiv by 182.4% in the third quarter. FMR LLC now owns 47,236,496 shares of the company’s stock worth $1,757,198,000 after purchasing an additional 30,511,907 shares during the period. Vanguard Group Inc. boosted its holdings in Vertiv by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 31,855,473 shares of the company’s stock worth $1,530,018,000 after purchasing an additional 226,716 shares during the period. Coatue Management LLC boosted its holdings in Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after purchasing an additional 2,249,353 shares during the period. Invesco Ltd. boosted its holdings in Vertiv by 10.2% in the third quarter. Invesco Ltd. now owns 10,817,978 shares of the company’s stock worth $402,429,000 after purchasing an additional 1,002,191 shares during the period. Finally, Norges Bank acquired a new position in Vertiv in the fourth quarter worth $185,339,000. Institutional investors and hedge funds 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.