Vertiv Holdings Co (NYSE:VRT – Get Free Report)’s share price shot up 0.9% during trading on Tuesday . The stock traded as high as $89.07 and last traded at $87.40. 2,274,589 shares traded hands during trading, a decline of 73% from the average session volume of 8,487,162 shares. The stock had previously closed at $86.66.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Oppenheimer lifted their price objective on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. The Goldman Sachs Group boosted their price objective on shares of Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a report on Friday, May 17th. Mizuho raised their target price on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Bank of America boosted their target price on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised their price target on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.11.
Vertiv Trading Up 1.5 %
The stock has a fifty day moving average of $94.27 and a 200 day moving average of $74.87. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market capitalization of $32.94 billion, a P/E ratio of 83.83, a PEG ratio of 1.26 and a beta of 1.58.
Vertiv (NYSE:VRT – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. As a group, equities research analysts anticipate that Vertiv Holdings Co will post 2.43 EPS for the current fiscal year.
Vertiv Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s payout ratio is 9.62%.
Insider Activity at Vertiv
In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now directly owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Anders Karlborg sold 46,206 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $93.75, for a total value of $4,331,812.50. Following the transaction, the executive vice president now owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Doherty Philip O’ sold 9,529 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the transaction, the director now directly owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,162,739 shares of company stock worth $400,713,362. 5.01% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in VRT. PNC Financial Services Group Inc. boosted its position in shares of Vertiv by 20.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,335 shares of the company’s stock valued at $124,000 after acquiring an additional 564 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Vertiv in the 3rd quarter worth $214,000. Lazard Asset Management LLC increased its holdings in shares of Vertiv by 534.0% in the 3rd quarter. Lazard Asset Management LLC now owns 26,109 shares of the company’s stock worth $971,000 after buying an additional 21,991 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Vertiv by 4.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 31,903 shares of the company’s stock valued at $1,187,000 after buying an additional 1,283 shares in the last quarter. Finally, Seven Eight Capital LP lifted its holdings in shares of Vertiv by 227.3% in the 3rd quarter. Seven Eight Capital LP now owns 298,220 shares of the company’s stock valued at $11,094,000 after acquiring an additional 207,111 shares during the last quarter. 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.