Vertiv (NYSE:VRT) Shares Up 1%

Shares of Vertiv Holdings Co (NYSE:VRT) shot up 1% on Thursday . The stock traded as high as $90.90 and last traded at $89.43. 1,656,897 shares were traded during mid-day trading, a decline of 80% from the average session volume of 8,211,836 shares. The stock had previously closed at $88.52.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRT. Evercore ISI lifted their price objective on Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Bank of America lifted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Mizuho boosted their target price on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Finally, Oppenheimer increased their price target on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.11.

Vertiv Price Performance

The firm has a market cap of $35.53 billion, a price-to-earnings ratio of 89.40, a P/E/G ratio of 1.39 and a beta of 1.55. The business has a 50 day simple moving average of $78.95 and a 200-day simple moving average of $58.90. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.35 and a current ratio of 1.34.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the business earned $0.24 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Announces Dividend

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

Insider Activity

In other Vertiv news, Director Doherty Philip O’ sold 488,705 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.68, for a total value of $45,781,884.40. Following the completion of the transaction, the director now owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Doherty Philip O’ sold 488,705 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the completion of the sale, the director now owns 11,835,476 shares in the company, valued at $1,108,747,391.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. Insiders sold a total of 3,362,790 shares of company stock valued at $306,451,347 over the last three months. Corporate insiders own 5.62% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several large investors have recently modified their holdings of VRT. FMR LLC lifted its position in shares of Vertiv by 182.4% during the third quarter. FMR LLC now owns 47,236,496 shares of the company’s stock worth $1,757,198,000 after acquiring an additional 30,511,907 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Vertiv by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 31,855,473 shares of the company’s stock valued at $1,530,018,000 after buying an additional 226,716 shares during the period. Coatue Management LLC lifted its holdings in shares of Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after buying an additional 2,249,353 shares in the last quarter. Invesco Ltd. increased its holdings in Vertiv by 10.2% during the 3rd quarter. Invesco Ltd. now owns 10,817,978 shares of the company’s stock worth $402,429,000 after acquiring an additional 1,002,191 shares during the period. Finally, Norges Bank purchased a new position in shares of Vertiv during the 4th quarter valued at $185,339,000. Hedge funds and other 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.