Vertiv (NYSE:VRT) Trading Down 6.5% – Here’s What Happened

Vertiv Holdings Co. (NYSE:VRT) was down 6.5% during trading on Tuesday . The company traded as low as $259.19 and last traded at $268.83. 7,984,107 shares traded hands during mid-day trading, an increase of 19% from the average session volume of 6,688,057 shares. The stock had previously closed at $287.60.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research analyst reports. Zacks Research lowered shares of Vertiv from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Oppenheimer upped their target price on shares of Vertiv from $330.00 to $353.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of Vertiv from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Robert W. Baird assumed coverage on Vertiv in a report on Wednesday, July 15th. They issued an “outperform” rating and a $370.00 price target for the company. Finally, Glj Research upgraded Vertiv from a “sell” rating to a “hold” rating in a report on Thursday, June 18th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Vertiv has an average rating of “Moderate Buy” and an average price target of $343.48.

Vertiv Trading Down 6.5%

The company has a quick ratio of 1.15, a current ratio of 1.49 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $312.19 and its 200-day moving average price is $275.53. The stock has a market capitalization of $103.26 billion, a P/E ratio of 67.55, a P/E/G ratio of 1.25 and a beta of 2.03.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a $0.0625 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.1%. Vertiv’s dividend payout ratio (DPR) is currently 6.28%.

Institutional Investors Weigh In On Vertiv

A number of large investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC raised its position in Vertiv by 58.3% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 152 shares of the company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Sankala Group LLC purchased a new stake in shares of Vertiv in the 4th quarter valued at $27,000. Meeder Asset Management Inc. boosted its holdings in shares of Vertiv by 211.3% in the 4th quarter. Meeder Asset Management Inc. now owns 165 shares of the company’s stock valued at $27,000 after acquiring an additional 112 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Vertiv in the fourth quarter worth $27,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Vertiv in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

About Vertiv

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.