Vertiv (NYSE:VRT) Stock Price Down 2.8% – What’s Next?

Vertiv Holdings Co (NYSE:VRT) dropped 2.8% during trading on Tuesday . The stock traded as low as $126.01 and last traded at $130.28. Approximately 3,188,889 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 6,168,695 shares. The stock had previously closed at $134.08.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Bank of America upped their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group assumed coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. The Goldman Sachs Group increased their price objective on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Barclays initiated coverage on shares of Vertiv in a report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.92.

Vertiv Price Performance

The firm has a 50-day moving average of $123.23 and a 200 day moving average of $101.06. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The company has a market capitalization of $49.41 billion, a PE ratio of 87.77, a PEG ratio of 1.29 and a beta of 1.63.

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

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a $0.0375 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. Vertiv’s dividend payout ratio is presently 6.67%.

Insider Activity

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

Hedge Funds Weigh In On Vertiv

Several hedge funds have recently modified their holdings of the stock. Anchor Investment Management LLC bought a new position in shares of Vertiv during the 2nd quarter valued at approximately $26,000. Krane Funds Advisors LLC bought a new position in Vertiv during the third quarter valued at $29,000. Global Trust Asset Management LLC bought a new stake in shares of Vertiv in the 3rd quarter worth about $30,000. Mark Sheptoff Financial Planning LLC raised its position in shares of Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Vertiv in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

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.