Vertiv Holdings Co. (NYSE:VRT) Announces Dividend Increase – $0.10 Per Share

Vertiv Holdings Co. (NYSE:VRT) announced a quarterly dividend on Friday, November 13th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $0.10 per share on Thursday, December 17th. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, November 24th. This is a 60.0% increase from Vertiv’s previous quarterly dividend of $0.0625.

Vertiv has raised its dividend by an average of 0.7% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Vertiv has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vertiv to earn $9.60 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 2.6%.

Vertiv Stock Performance

Shares of NYSE VRT traded down $8.04 during trading on Friday, reaching $201.60. 5,398,707 shares of the stock traded hands, compared to its average volume of 6,573,257. Vertiv has a 52-week low of $147.82 and a 52-week high of $379.93. The stock has a market capitalization of $77.63 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 0.66 and a beta of 2.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.39 and a quick ratio of 1.01. The company has a 50-day moving average of $232.64 and a 200-day moving average of $270.17.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 28th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.82 by $0.39. Vertiv had a net margin of 15.99% and a return on equity of 53.31%. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The firm’s revenue for the quarter was up 61.2% on a year-over-year basis. Analysts forecast that Vertiv will post 7.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VRT shares. Sanford C. Bernstein lifted their price objective on shares of Vertiv from $368.00 to $376.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Bank of America dropped their price target on Vertiv from $440.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Mizuho set a $300.00 price objective on shares of Vertiv in a research report on Thursday, October 29th. HSBC decreased their target price on Vertiv from $376.00 to $365.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertiv in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $333.70.

About Vertiv

Vertiv Holdings Co. (NYSE: VRT) designs, manufactures and services critical digital infrastructure used by data centers, communications networks and commercial and industrial facilities. Its offerings help customers maintain reliable power, cooling and operating conditions for technology systems. The company’s products and solutions include uninterruptible power supplies, power distribution equipment, thermal management systems, racks, integrated modular infrastructure, and monitoring and control software.