Vertiv (NYSE:VRT) Trading 4.5% Higher – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price shot up 4.5% during trading on Tuesday . The company traded as high as $130.88 and last traded at $129.65. 2,054,388 shares were traded during mid-day trading, a decline of 65% from the average session volume of 5,919,340 shares. The stock had previously closed at $124.01.

Wall Street Analysts Forecast Growth

VRT has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Citigroup increased their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Bank of America boosted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays assumed coverage on shares of Vertiv in a report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price for the company. Finally, Mizuho boosted their price target on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.92.

Vertiv Trading Up 3.2 %

The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The company has a market cap of $48.06 billion, a PE ratio of 85.36, a PEG ratio of 1.29 and a beta of 1.63. The stock has a 50 day moving average price of $125.10 and a 200 day moving average price of $102.45.

Vertiv (NYSE:VRT) last announced 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. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Sell-side analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.0375 per share. This is an increase 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 dividend yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Insider Activity

In other news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction that occurred 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 owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, the director now owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,527 shares of company stock worth $23,105,682. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several institutional investors have recently modified their holdings of VRT. Accurate Wealth Management LLC lifted its stake in Vertiv by 4.1% during the 4th quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock valued at $254,000 after acquiring an additional 87 shares during the period. ORG Partners LLC raised its holdings in shares of Vertiv by 25.1% during the third quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP lifted its position in Vertiv by 18.6% during the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after purchasing an additional 100 shares during the period. NBC Securities Inc. boosted its holdings in Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock worth $1,305,000 after purchasing an additional 112 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Vertiv by 16.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 837 shares of the company’s stock worth $95,000 after purchasing an additional 121 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.