TD Cowen Issues Positive Forecast for Vertiv (NYSE:VRT) Stock Price

Vertiv (NYSE:VRT) had its target price hoisted by TD Cowen from $115.00 to $141.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on VRT. UBS Group assumed coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Oppenheimer increased their target price on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday. Bank of America lifted their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citigroup increased their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Performance

Shares of Vertiv stock opened at $140.15 on Tuesday. The company’s 50 day moving average price is $110.94 and its two-hundred day moving average price is $95.19. The firm has a market capitalization of $52.60 billion, a P/E ratio of 93.43, a P/E/G ratio of 1.53 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 has a fifty-two week low of $41.01 and a fifty-two week high of $145.67.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the business posted $0.52 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, equities analysts forecast that Vertiv will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.11%. Vertiv’s payout ratio is currently 6.67%.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the company’s 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 sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction on 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 sale, the director now owns 3,425 shares in the company, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,185 shares of company stock valued at $10,074,936. 5.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Old West Investment Management LLC increased its position in shares of Vertiv by 44.1% in the third quarter. Old West Investment Management LLC now owns 28,372 shares of the company’s stock worth $2,823,000 after purchasing an additional 8,683 shares during the last quarter. TCW Group Inc. grew its stake in Vertiv by 9.5% in the 3rd quarter. TCW Group Inc. now owns 498,387 shares of the company’s stock worth $49,585,000 after buying an additional 43,148 shares in the last quarter. Virtue Capital Management LLC increased its holdings in shares of Vertiv by 1.2% in the 3rd quarter. Virtue Capital Management LLC now owns 15,061 shares of the company’s stock worth $1,498,000 after buying an additional 177 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Vertiv by 26.6% during the 3rd 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 in the last quarter. Finally, TT International Asset Management LTD raised its position in shares of Vertiv by 746.5% during the 3rd 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 in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.