Vertiv (NYSE:VRT) Shares Down 1.9%

Vertiv Holdings Co (NYSE:VRT)’s share price dropped 1.9% on Monday . The stock traded as low as $83.93 and last traded at $84.11. Approximately 1,536,865 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 8,537,362 shares. The stock had previously closed at $85.76.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. The Goldman Sachs Group cut their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Evercore ISI reiterated an “outperform” rating and issued a $105.00 price target on shares of Vertiv in a research report on Thursday, August 15th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Finally, TD Cowen increased their target price on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $102.13.

Vertiv Price Performance

The company has a market capitalization of $32.82 billion, a price-to-earnings ratio of 84.29, a P/E/G ratio of 1.08 and a beta of 1.58. The company has a fifty day simple moving average of $79.54 and a two-hundred day simple moving average of $85.02. 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 released its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s payout ratio is currently 9.62%.

Insider Buying and Selling at Vertiv

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

Hedge Funds Weigh In On Vertiv

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in Vertiv by 296.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after purchasing an additional 9,870 shares during the period. California State Teachers Retirement System boosted its holdings in Vertiv by 58.8% in the 4th quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock worth $26,312,000 after acquiring an additional 202,766 shares during the period. Williamson Legacy Group LLC acquired a new stake in Vertiv in the fourth quarter valued at approximately $1,645,000. Quadrant Capital Group LLC raised its stake in shares of Vertiv by 24.7% during the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after purchasing an additional 170 shares during the period. Finally, Swiss National Bank lifted its position in shares of Vertiv by 1.3% during the first quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock worth $88,628,000 after purchasing an additional 14,100 shares in the last quarter. Hedge funds and other 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.