Vertiv Holdings Co (NYSE:VRT – Get Free Report) shares rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $100.88 and last traded at $100.38. Approximately 2,246,544 shares were traded during trading, a decline of 74% from the average daily volume of 8,508,814 shares. The stock had previously closed at $97.39.
Wall Street Analysts Forecast Growth
VRT has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. Evercore ISI reiterated an “outperform” rating and set a $105.00 target price on shares of Vertiv in a report on Thursday, August 15th. Finally, TD Cowen upped their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average target price of $102.13.
Vertiv Stock Performance
The firm has a market capitalization of $37.71 billion, a price-to-earnings ratio of 96.88, a PEG ratio of 1.26 and a beta of 1.58. The company has a fifty day moving average of $79.80 and a two-hundred day moving average of $85.82. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.
Vertiv (NYSE:VRT – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.46 EPS. As a group, equities research analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.
Vertiv Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.10%. Vertiv’s payout ratio is currently 9.62%.
Insider Buying and Selling at Vertiv
In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.01% of the company’s stock.
Hedge Funds Weigh In On Vertiv
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new position in Vertiv in the 2nd quarter valued at $26,000. KP Management LLC increased its stake in shares of Vertiv by 9.1% in the 2nd quarter. KP Management LLC now owns 60,000 shares of the company’s stock valued at $5,194,000 after purchasing an additional 5,000 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Vertiv in the 2nd quarter valued at $1,632,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Vertiv in the 2nd quarter valued at $346,000. Finally, Sycomore Asset Management bought a new position in shares of Vertiv in the 2nd quarter valued at $10,225,000. 89.92% of the stock is owned by institutional investors and hedge funds.
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.