Vertiv (NYSE:VRT) Stock Price Down 3.7%

Shares of Vertiv Holdings Co (NYSE:VRT) were down 3.7% during mid-day trading on Wednesday . The stock traded as low as $78.52 and last traded at $79.62. Approximately 2,686,128 shares changed hands during trading, a decline of 63% from the average daily volume of 7,348,925 shares. The stock had previously closed at $82.67.

Analyst Ratings Changes

Several research firms have weighed in on VRT. Mizuho raised their price target on Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Evercore ISI raised their price target on Vertiv from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. raised their price target on Vertiv from $53.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Citigroup raised their price target on Vertiv from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Bank of America raised their price target on Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.38.

Vertiv Stock Down 3.0 %

The firm’s 50-day moving average price is $65.08 and its 200-day moving average price is $50.45. The company has a market cap of $30.63 billion, a price-to-earnings ratio of 68.12, a price-to-earnings-growth ratio of 1.30 and a beta of 1.57. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. Sell-side analysts forecast that Vertiv Holdings Co will post 2.35 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares in the company, valued at $3,641,311.84. The disclosure for this sale can be found here. Insiders own 5.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. HighPoint Advisor Group LLC bought a new position in shares of Vertiv in the 4th quarter worth about $653,000. PNC Financial Services Group Inc. increased its holdings in shares of Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock worth $634,000 after acquiring an additional 9,870 shares during the period. Kingdon Capital Management L.L.C. acquired a new stake in shares of Vertiv in the 4th quarter worth about $8,886,000. Vanguard Group Inc. increased its holdings in shares of Vertiv by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 31,855,473 shares of the company’s stock worth $1,530,018,000 after acquiring an additional 226,716 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of Vertiv in the 4th quarter worth about $1,180,000. 89.92% of the stock is currently 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.