Vertiv (NYSE:VRT) Stock Price Up 3.2%

Vertiv Holdings Co (NYSE:VRT)’s stock price shot up 3.2% during mid-day trading on Monday . The stock traded as high as $74.70 and last traded at $74.04. 1,777,529 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 8,560,806 shares. The stock had previously closed at $71.77.

Analyst Upgrades and Downgrades

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

Vertiv Stock Performance

The company has a market cap of $30.84 billion, a PE ratio of 78.44, a PEG ratio of 0.94 and a beta of 1.58. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The firm’s 50 day moving average is $80.22 and its 200-day moving average is $84.37.

Vertiv (NYSE:VRT) last released its quarterly earnings data 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. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company 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 company posted $0.46 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be given a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.12%. Vertiv’s payout ratio is 9.62%.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of VRT. Private Advisor Group LLC acquired a new stake in Vertiv during the 4th quarter valued at $1,018,000. Teacher Retirement System of Texas lifted its position in shares of Vertiv by 29.1% in the fourth quarter. Teacher Retirement System of Texas now owns 156,065 shares of the company’s stock valued at $7,496,000 after acquiring an additional 35,222 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Vertiv during the fourth quarter valued at $1,062,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Vertiv by 104.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 307,920 shares of the company’s stock worth $14,032,000 after purchasing an additional 157,171 shares in the last quarter. Finally, Nicholas Investment Partners LP raised its stake in Vertiv by 64.1% in the 4th quarter. Nicholas Investment Partners LP now owns 30,825 shares of the company’s stock valued at $1,481,000 after purchasing an additional 12,037 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.