Vertiv (NYSE:VRT) Hits New 1-Year High at $97.28

Vertiv Holdings Co (NYSE:VRT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $97.28 and last traded at $96.69, with a volume of 1520975 shares traded. The stock had previously closed at $93.01.

Analysts Set New Price Targets

VRT has been the subject of a number of recent analyst reports. Citigroup increased their price target on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Evercore ISI lifted their price objective on shares of Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Oppenheimer increased their target price on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Bank of America lifted their target price on Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.11.

Vertiv Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The stock’s 50-day moving average is $80.75 and its 200-day moving average is $60.37. The firm has a market cap of $35.53 billion, a P/E ratio of 91.26, a price-to-earnings-growth ratio of 1.41 and a beta of 1.55.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Vertiv Holdings Co will post 2.42 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s payout ratio is 9.62%.

Insiders Place Their Bets

In related news, insider Yibin Edward Cui sold 668 shares of the company’s stock in a transaction dated Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the sale, the insider now owns 19,452 shares of the company’s stock, valued at $1,836,074.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction 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 owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Yibin Edward Cui sold 668 shares of the firm’s stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the sale, the insider now owns 19,452 shares of the company’s stock, valued at $1,836,074.28. The disclosure for this sale can be found here. Insiders have sold 3,409,664 shares of company stock worth $310,846,212 over the last 90 days. Corporate insiders own 5.62% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. grew its stake in shares of Vertiv by 161.7% during the third quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock valued at $25,000 after purchasing an additional 409 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of Vertiv in the 1st quarter valued at $25,000. GAMMA Investing LLC bought a new stake in shares of Vertiv during the fourth quarter worth $26,000. Raleigh Capital Management Inc. boosted its holdings in Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after acquiring an additional 252 shares during the last quarter. Finally, Atticus Wealth Management LLC bought a new stake in Vertiv during the 1st quarter worth about $27,000. 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.