Citigroup Increases Vertiv (NYSE:VRT) Price Target to $110.00

Vertiv (NYSE:VRT) had its price objective hoisted by Citigroup from $102.00 to $110.00 in a research note released on Thursday, Benzinga reports. Citigroup currently has a buy rating on the stock.

VRT has been the topic of a number of other research reports. Bank of America raised their target price on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a report on Monday, March 18th. Oppenheimer raised their target price on Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a report on Thursday. Evercore ISI raised their target price on Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a report on Thursday. Finally, 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $81.11.

Vertiv Price Performance

Vertiv stock opened at $93.49 on Thursday. The business’s 50-day simple moving average is $76.51 and its 200 day simple moving average is $57.70. The stock has a market cap of $35.71 billion, a price-to-earnings ratio of 89.89, a P/E/G ratio of 1.49 and a beta of 1.59. Vertiv has a 12-month low of $13.73 and a 12-month high of $95.32. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business earned $0.24 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Vertiv will post 2.38 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is presently 9.62%.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value 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 disclosure for this sale can be found here. 5.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VRT. Nordea Investment Management AB bought a new position in shares of Vertiv during the 4th quarter worth approximately $1,040,000. Xponance Inc. boosted its stake in shares of Vertiv by 2.9% during the 4th quarter. Xponance Inc. now owns 14,984 shares of the company’s stock worth $720,000 after acquiring an additional 426 shares during the period. WT Asset Management Ltd bought a new position in shares of Vertiv during the 4th quarter worth approximately $24,486,000. CenterBook Partners LP boosted its stake in shares of Vertiv by 82.0% during the 3rd quarter. CenterBook Partners LP now owns 174,938 shares of the company’s stock worth $6,508,000 after acquiring an additional 78,793 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in shares of Vertiv by 791.6% during the 3rd quarter. Quadrature Capital Ltd now owns 92,628 shares of the company’s stock worth $3,445,000 after acquiring an additional 82,239 shares during the period. Institutional investors and hedge funds 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.