Vertiv (NYSE:VRT) Trading Down 6.8%

Vertiv Holdings Co (NYSE:VRT)’s stock price was down 6.8% during trading on Wednesday . The company traded as low as $83.12 and last traded at $83.61. Approximately 2,937,368 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 8,356,708 shares. The stock had previously closed at $89.72.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VRT shares. Mizuho increased their price objective on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Oppenheimer increased their price objective on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. The Goldman Sachs Group increased their price objective on shares of Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Bank of America increased their price objective on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Evercore ISI increased their target price on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.11.

Vertiv Price Performance

The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market capitalization of $31.37 billion, a PE ratio of 80.39, a P/E/G ratio of 1.27 and a beta of 1.58. The company’s 50-day simple moving average is $94.36 and its 200-day simple moving average is $78.20.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm posted $0.24 EPS. Vertiv’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertiv Holdings Co will post 2.44 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Transactions at Vertiv

In other news, Director Doherty Philip O’ sold 9,529 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Doherty Philip O’ sold 9,529 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anders Karlborg sold 46,206 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the sale, the executive vice president now owns 23,003 shares of the company’s stock, valued at approximately $2,156,531.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,162,739 shares of company stock worth $400,713,362. Company insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after purchasing an additional 1,766,784 shares during the period. Coatue Management LLC lifted its stake in shares of Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Norges Bank acquired a new stake in shares of Vertiv in the fourth quarter valued at about $185,339,000. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Vertiv by 85.2% in the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares during the period. 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.