Vertiv Holdings Co Announces Quarterly Dividend of $0.03 (NYSE:VRT)

Vertiv Holdings Co (NYSE:VRT) declared a quarterly dividend on Thursday, September 5th, Wall Street Journal reports. Stockholders of record on Tuesday, September 17th will be paid a dividend of 0.025 per share on Thursday, September 26th. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Tuesday, September 17th.

Vertiv has increased its dividend by an average of 35.7% per year over the last three years. Vertiv has a dividend payout ratio of 3.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Vertiv to earn $3.31 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 3.0%.

Vertiv Stock Up 0.1 %

Shares of VRT stock traded up $0.09 on Thursday, hitting $75.15. The company’s stock had a trading volume of 3,786,083 shares, compared to its average volume of 8,602,458. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 71.84, a P/E/G ratio of 1.08 and a beta of 1.58. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $109.27. The firm’s fifty day moving average price is $81.25 and its 200-day moving average price is $83.87. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on VRT shares. Bank of America increased their price target on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. TD Cowen lifted their target price on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. Evercore ISI reiterated an “outperform” rating and issued a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group decreased their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $96.22.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.01% of the stock is owned by company insiders.

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.