Vertiv (NYSE:VRT) Stock Price Up 2.7%

Vertiv Holdings Co (NYSE:VRT) rose 2.7% during mid-day trading on Thursday . The stock traded as high as $82.74 and last traded at $82.31. Approximately 2,538,470 shares traded hands during trading, a decline of 71% from the average daily volume of 8,801,792 shares. The stock had previously closed at $80.16.

Analyst Ratings Changes

VRT has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Evercore ISI reissued an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research note on Thursday. Oppenheimer raised 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 decreased their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and cut their target price for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $96.22.

Vertiv Stock Performance

The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.98 and a current ratio of 1.36. The firm has a 50 day moving average of $84.77 and a two-hundred day moving average of $81.94. The stock has a market cap of $31.06 billion, a P/E ratio of 79.30, a P/E/G ratio of 0.97 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Vertiv’s revenue was up 12.6% compared to the same quarter last year. On average, research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

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

Insider Activity at Vertiv

In related news, Director Doherty Philip O’ sold 1,089,669 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $103.34, for a total value of $112,606,394.46. Following the sale, the director now owns 8,234,512 shares of the company’s stock, valued at $850,954,470.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Coatue Management LLC boosted its stake in shares of Vertiv by 19.5% in the 4th 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 last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares during the period. Norges Bank bought a new stake in shares of Vertiv during the fourth quarter worth approximately $185,339,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Vertiv in the second quarter valued at approximately $331,091,000. 89.92% of the stock is owned by institutional investors.

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.