Vertiv (NYSE:VRT) Stock Price Down 2.4%

Vertiv Holdings Co (NYSE:VRT)’s stock price fell 2.4% during mid-day trading on Tuesday . The stock traded as low as $96.16 and last traded at $97.13. 1,544,132 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 8,481,040 shares. The stock had previously closed at $99.49.

Wall Street Analysts Forecast Growth

Several analysts have commented on VRT shares. Evercore ISI restated an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. The Goldman Sachs Group reduced their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. Finally, TD Cowen lifted their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv presently has an average rating of “Buy” and a consensus target price of $102.13.

Vertiv Price Performance

The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The stock’s fifty day moving average is $81.04 and its 200-day moving average is $86.61. The stock has a market capitalization of $36.75 billion, a PE ratio of 93.39, a P/E/G ratio of 1.26 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. Vertiv’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. As a group, equities analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.10%. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vertiv

A number of hedge funds have recently modified their holdings of VRT. Franklin Resources Inc. acquired a new stake in shares of Vertiv in the fourth quarter valued at approximately $1,406,000. Hsbc Holdings PLC raised its holdings in shares of Vertiv by 101.7% during the 4th quarter. Hsbc Holdings PLC now owns 202,219 shares of the company’s stock worth $9,744,000 after acquiring an additional 101,955 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Vertiv during the 4th quarter worth $973,000. TD Asset Management Inc acquired a new position in shares of Vertiv during the 4th quarter valued at about $2,559,000. Finally, Allianz Asset Management GmbH increased its position in Vertiv by 74.3% during the fourth quarter. Allianz Asset Management GmbH now owns 308,051 shares of the company’s stock worth $14,796,000 after purchasing an additional 131,272 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Company Profile

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.