Vertiv (NYSE:VRT) Stock Price Down 1.8% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) shares were down 1.8% during mid-day trading on Tuesday . The company traded as low as $97.50 and last traded at $100.73. Approximately 10,381,504 shares were traded during trading, an increase of 14% from the average daily volume of 9,123,183 shares. The stock had previously closed at $102.60.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays assumed coverage on shares of Vertiv in a research note on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 target price on the stock. Citigroup increased their target price on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Melius lowered Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Tuesday. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and a consensus target price of $139.36.

Vertiv Trading Up 3.8 %

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 stock’s 50-day moving average is $126.63 and its two-hundred day moving average is $105.75. The company has a market cap of $43.02 billion, a P/E ratio of 76.41, a P/E/G ratio of 1.16 and a beta of 1.63.

Vertiv Increases Dividend

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

Insider Buying and Selling at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. This trade represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,527 shares of company stock valued at $23,105,682. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several large investors have recently bought and sold shares of VRT. The Manufacturers Life Insurance Company lifted its stake in shares of Vertiv by 55.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,523 shares of the company’s stock valued at $2,642,000 after purchasing an additional 10,884 shares during the last quarter. Creative Planning boosted its stake in Vertiv by 5.8% during the second quarter. Creative Planning now owns 36,277 shares of the company’s stock worth $3,140,000 after buying an additional 2,004 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Vertiv by 238.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,810 shares of the company’s stock valued at $1,542,000 after acquiring an additional 12,546 shares during the period. Quarry LP bought a new stake in shares of Vertiv in the 2nd quarter worth about $57,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Vertiv during the 2nd quarter worth about $475,000. 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.