Vertiv (NYSE:VRT) Stock Price Up 1.3% – Here’s What Happened

Shares of Vertiv Holdings Co (NYSE:VRT) traded up 1.3% during trading on Wednesday . The stock traded as high as $109.20 and last traded at $108.25. 1,832,724 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 8,394,599 shares. The stock had previously closed at $106.82.

Analysts Set New Price Targets

Several research analysts have issued reports on VRT shares. Jefferies Financial Group assumed coverage on shares of Vertiv in a report on Monday. They set a “buy” rating and a $125.00 target price on the stock. The Goldman Sachs Group cut their price target 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. TD Cowen boosted their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research 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 research report on Wednesday, August 7th. Finally, Evercore ISI boosted their price target on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $106.89.

Vertiv Stock Performance

The company has a market cap of $40.70 billion, a P/E ratio of 104.09, a P/E/G ratio of 1.26 and a beta of 1.59. The firm has a 50 day moving average price of $83.98 and a 200-day moving average price of $87.67. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $0.46 EPS. Vertiv’s revenue was up 12.6% on a year-over-year basis. On average, research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. Vertiv’s payout ratio is 9.62%.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Vertiv by 22.3% during the first quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock valued at $53,000 after buying an additional 119 shares during the period. Callan Family Office LLC lifted its position in Vertiv by 0.9% during the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock valued at $1,491,000 after purchasing an additional 137 shares during the period. First Community Trust NA raised its position in Vertiv by 12.1% in the third quarter. First Community Trust NA now owns 1,446 shares of the company’s stock worth $144,000 after acquiring an additional 156 shares during the period. Farmers & Merchants Investments Inc. raised its position in Vertiv by 66.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock worth $41,000 after acquiring an additional 200 shares during the period. Finally, Mather Group LLC. increased its stake in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.