Vertiv (NYSE:VRT) Shares Up 2.9% – Time to Buy?

Vertiv Holdings Co (NYSE:VRT)’s share price rose 2.9% on Wednesday . The company traded as high as $87.70 and last traded at $87.09. Approximately 1,670,637 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 8,546,230 shares. The stock had previously closed at $84.66.

Analyst Ratings Changes

Several research analysts have issued reports on VRT shares. Melius downgraded Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada assumed coverage on Vertiv in a research report on Friday, March 7th. They issued an “outperform” rating and a $121.00 price objective for the company. Mizuho lifted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group lifted their target price on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four research 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, Vertiv has an average rating of “Moderate Buy” and an average target price of $136.07.

Vertiv Stock Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The stock’s 50-day moving average is $109.87 and its 200 day moving average is $111.18. The firm has a market cap of $33.76 billion, a P/E ratio of 69.35, a PEG ratio of 1.07 and a beta of 1.71.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same period in the previous year, the company posted $0.56 earnings per share. On average, research analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 18th will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Tuesday, March 18th. Vertiv’s dividend payout ratio is presently 11.72%.

Hedge Funds Weigh In On Vertiv

Several hedge funds have recently made changes to their positions in VRT. Massachusetts Financial Services Co. MA bought a new position in Vertiv in the fourth quarter valued at $597,379,000. Jennison Associates LLC boosted its stake in shares of Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after buying an additional 4,558,306 shares during the last quarter. Norges Bank bought a new position in shares of Vertiv in the 4th quarter valued at about $391,777,000. Wellington Management Group LLP increased its position in shares of Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company’s stock worth $379,101,000 after acquiring an additional 1,928,275 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

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.