Vertiv (NYSE:VRT) Trading 8.8% Higher

Shares of Vertiv Holdings Co (NYSE:VRT) traded up 8.8% on Wednesday . The company traded as high as $80.90 and last traded at $79.43. 5,332,390 shares traded hands during trading, a decline of 38% from the average session volume of 8,625,966 shares. The stock had previously closed at $73.03.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America upped their price objective on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Mizuho upped their price objective on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. TD Cowen upped their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Evercore ISI boosted 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. Finally, The Goldman Sachs Group decreased their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

Vertiv Price Performance

The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98. The company has a 50-day moving average price of $90.95 and a 200-day moving average price of $80.56. The firm has a market capitalization of $29.44 billion, a PE ratio of 76.38, a P/E/G ratio of 1.02 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 49.53% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business earned $0.46 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. Sell-side analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, June 17th. This represents a $0.10 annualized dividend and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Buying and Selling

In related news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the transaction, the director now directly owns 6,882,859 shares in the company, valued at $752,296,488.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Vertiv news, Director Roger Fradin sold 16,667 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $103.86, for a total transaction of $1,731,034.62. Following the completion of the sale, the director now directly owns 218,333 shares in the company, valued at $22,676,065.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was 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 of the company’s stock, valued at $752,296,488.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,162,739 shares of company stock worth $119,773,814. 5.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vertiv

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in shares of Vertiv by 85.3% in the second quarter. Farther Finance Advisors LLC now owns 3,909 shares of the company’s stock valued at $339,000 after buying an additional 1,800 shares in the last quarter. Spire Wealth Management grew its stake in shares of Vertiv by 344.1% in the second quarter. Spire Wealth Management now owns 8,526 shares of the company’s stock valued at $738,000 after buying an additional 6,606 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Vertiv by 50.8% in the second quarter. Commonwealth Equity Services LLC now owns 95,937 shares of the company’s stock valued at $8,305,000 after buying an additional 32,325 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Vertiv in the second quarter valued at about $101,000. Finally, Maryland State Retirement & Pension System grew its stake in shares of Vertiv by 3.6% in the second quarter. Maryland State Retirement & Pension System now owns 27,895 shares of the company’s stock valued at $2,415,000 after buying an additional 969 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

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.