JPMorgan Chase & Co. Boosts Vertiv (NYSE:VRT) Price Target to $132.00

Vertiv (NYSE:VRT) had its target price increased by JPMorgan Chase & Co. from $124.00 to $132.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

VRT has been the topic of a number of other reports. Bank of America lifted their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Oppenheimer boosted their price objective on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group assumed coverage on Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price for the company. Mizuho lifted their price target on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, TD Cowen increased their price objective on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $138.50.

Vertiv Stock Down 0.9 %

Shares of VRT stock opened at $140.15 on Tuesday. Vertiv has a 12 month low of $41.01 and a 12 month high of $145.67. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a market cap of $52.60 billion, a PE ratio of 93.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.58. The stock has a 50 day moving average of $110.94 and a 200-day moving average of $95.19.

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

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insider Buying and Selling at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,185 shares of company stock worth $10,074,936 over the last ninety days. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

A number of institutional investors have recently modified their holdings of VRT. Blair William & Co. IL acquired a new stake in shares of Vertiv in the first quarter valued at approximately $284,000. Acadian Asset Management LLC raised its position in shares of Vertiv by 1,019.3% during the first quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock worth $326,000 after acquiring an additional 3,649 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Vertiv by 37.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,535 shares of the company’s stock valued at $942,000 after acquiring an additional 3,114 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Vertiv by 108.0% in the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the company’s stock valued at $425,000 after acquiring an additional 2,700 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Vertiv by 157.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 223,914 shares of the company’s stock worth $18,301,000 after purchasing an additional 136,956 shares during the period. 89.92% of the stock is owned by 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.