Vertiv (NYSE:VRT) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Vertiv (NYSE:VRT) posted its earnings results on Wednesday. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10, Briefing.com reports. Vertiv had a return on equity of 49.53% and a net margin of 6.93%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company earned $0.46 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year.

Vertiv Price Performance

Shares of NYSE:VRT traded up $2.24 during trading on Friday, hitting $78.72. 4,072,759 shares of the company’s stock were exchanged, compared to its average volume of 8,601,052. The business’s 50-day simple moving average is $92.30 and its 200 day simple moving average is $79.56. The company has a market cap of $29.47 billion, a price-to-earnings ratio of 75.12, a PEG ratio of 1.11 and a beta of 1.58. Vertiv has a 52-week low of $25.09 and a 52-week high of $109.27. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. Vertiv’s dividend payout ratio is presently 9.62%.

Insider Buying and Selling

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the completion of the sale, the director now directly owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the business’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 sale, the director now owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roger Fradin sold 16,667 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total value of $1,731,034.62. Following the transaction, the director now owns 218,333 shares of the company’s stock, valued at approximately $22,676,065.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,674,034 shares of company stock valued at $354,931,478. Corporate insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VRT. Bank of America lifted their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. TD Cowen boosted their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup upped their price objective on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Evercore ISI raised their target price on Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

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.