Vertiv (NYSE:VRT) Sees Unusually-High Trading Volume After Strong Earnings

Vertiv Holdings Co (NYSE:VRT) shares saw strong trading volume on Wednesday after the company announced better than expected quarterly earnings. 3,810,782 shares changed hands during mid-day trading, a decline of 55% from the previous session’s volume of 8,435,340 shares.The stock last traded at $87.18 and had previously closed at $91.00.

The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 49.53%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share.

Vertiv Dividend Announcement

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

Analysts Set New Price Targets

VRT has been the topic of several recent research reports. Citigroup raised their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. TD Cowen increased their price target on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI increased their price target on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Mizuho increased their price target on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. increased their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Buying and Selling

In related news, Director Doherty Philip O’ sold 2,511,295 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $93.64, for a total value of $235,157,663.80. Following the completion of the transaction, the director now directly owns 9,324,181 shares of the company’s stock, valued at $873,116,308.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, 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 value of $4,331,812.50. Following the completion of the transaction, the executive vice president now directly owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Doherty Philip O’ sold 2,511,295 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $93.64, for a total value of $235,157,663.80. Following the completion of the transaction, the director now directly owns 9,324,181 shares of the company’s stock, valued at $873,116,308.84. The disclosure for this sale can be found here. Insiders sold a total of 3,674,034 shares of company stock valued at $354,931,478 over the last ninety days. 5.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Callan Family Office LLC bought a new position in shares of Vertiv during the second quarter valued at $1,286,000. Salomon & Ludwin LLC bought a new position in shares of Vertiv during the second quarter valued at $92,000. EFG Asset Management North America Corp. lifted its holdings in shares of Vertiv by 41.8% during the second quarter. EFG Asset Management North America Corp. now owns 31,707 shares of the company’s stock valued at $2,741,000 after acquiring an additional 9,341 shares during the period. Raymond James Trust N.A. bought a new position in shares of Vertiv during the second quarter valued at $226,000. Finally, Independence Bank of Kentucky lifted its holdings in shares of Vertiv by 158.3% during the second quarter. Independence Bank of Kentucky now owns 2,970 shares of the company’s stock valued at $257,000 after acquiring an additional 1,820 shares during the period. 89.92% of the stock is owned by institutional investors.

Vertiv Stock Performance

The company has a market capitalization of $28.62 billion, a P/E ratio of 73.52, a PEG ratio of 1.11 and a beta of 1.58. The stock has a fifty day simple moving average of $92.30 and a 200-day simple moving average of $79.56. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09.

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.