Vertiv (NYSE:VRT) Trading Up 2.8% After Dividend Announcement

Shares of Vertiv Holdings Co (NYSE:VRT) were up 2.8% on Monday following a dividend announcement from the company. The company traded as high as $125.84 and last traded at $124.24. Approximately 1,534,066 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 8,142,675 shares. The stock had previously closed at $120.87.

The newly announced dividend which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s payout ratio is currently 6.67%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Evercore ISI boosted their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen boosted their price objective on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Mizuho boosted their price objective on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv presently has a consensus rating of “Buy” and an average target price of $125.40.

Vertiv Trading Up 1.8 %

The firm’s 50 day moving average price is $106.34 and its 200-day moving average price is $93.93. The stock has a market cap of $46.19 billion, a P/E ratio of 82.03, a P/E/G ratio of 1.31 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRT. Virtue Capital Management LLC increased its holdings in Vertiv by 1.2% during the third quarter. Virtue Capital Management LLC now owns 15,061 shares of the company’s stock valued at $1,498,000 after buying an additional 177 shares during the last quarter. Toronto Dominion Bank increased its holdings in Vertiv by 26.6% during the third quarter. Toronto Dominion Bank now owns 43,521 shares of the company’s stock valued at $4,330,000 after buying an additional 9,150 shares during the last quarter. TT International Asset Management LTD increased its holdings in Vertiv by 746.5% during the third quarter. TT International Asset Management LTD now owns 50,098 shares of the company’s stock valued at $4,984,000 after buying an additional 44,180 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in Vertiv by 10.0% during the third quarter. Coldstream Capital Management Inc. now owns 5,134 shares of the company’s stock valued at $528,000 after buying an additional 468 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Vertiv by 7.4% during the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after buying an additional 408,054 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

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.