Vertiv (NYSE:VRT) Stock Price Down 3.5% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT) shares traded down 3.5% during trading on Friday . The company traded as low as $113.70 and last traded at $114.67. 1,433,155 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 8,007,207 shares. The stock had previously closed at $118.88.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Bank of America boosted their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI raised their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho upped their price objective on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, UBS Group assumed coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Vertiv presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.09.

Vertiv Stock Down 4.2 %

The firm has a market cap of $42.74 billion, a price-to-earnings ratio of 75.92, a PEG ratio of 1.29 and a beta of 1.61. The business has a fifty day simple moving average of $122.12 and a 200 day simple moving average of $99.60. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.13%. The ex-dividend date was Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Buying and Selling at Vertiv

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now directly owns 19,448 shares in the company, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,527 shares of company stock worth $23,105,682. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC increased its stake in Vertiv by 25.1% during the third quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after acquiring an additional 92 shares during the last quarter. Allworth Financial LP increased its position in shares of Vertiv by 18.6% during the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. raised its holdings in Vertiv by 0.9% in the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after buying an additional 112 shares during the period. Nvwm LLC lifted its position in Vertiv by 1.3% in the third quarter. Nvwm LLC now owns 10,035 shares of the company’s stock valued at $998,000 after buying an additional 124 shares during the last quarter. Finally, Callan Family Office LLC boosted its stake in Vertiv by 0.9% during the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after buying an additional 137 shares during the period. 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.