Vertiv (NYSE:VRT) Trading 4.5% Higher

Vertiv Holdings Co (NYSE:VRT) shares traded up 4.5% during mid-day trading on Thursday . The company traded as high as $93.62 and last traded at $91.57. 3,402,189 shares traded hands during trading, a decline of 60% from the average session volume of 8,510,436 shares. The stock had previously closed at $87.66.

Wall Street Analysts Forecast Growth

VRT has been the topic of several recent analyst reports. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $95.00 to $92.00 in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Evercore ISI restated an “outperform” rating and issued a $105.00 price target on shares of Vertiv in a report on Thursday, August 15th. Finally, TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $102.13.

Vertiv Price Performance

The firm has a 50-day simple moving average of $79.49 and a two-hundred day simple moving average of $85.25. The company has a market capitalization of $35.39 billion, a price-to-earnings ratio of 90.91, a P/E/G ratio of 1.08 and a beta of 1.58. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90.

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 firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.46 earnings per share. Vertiv’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

Insiders Place Their Bets

In other 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 directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bogart Wealth LLC purchased a new position in shares of Vertiv during the 1st quarter worth $25,000. Anchor Investment Management LLC purchased a new position in shares of Vertiv in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. lifted its holdings in Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after buying an additional 252 shares during the last quarter. Atticus Wealth Management LLC purchased a new position in shares of Vertiv in the 1st quarter valued at about $27,000. Finally, Mather Group LLC. raised its position in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds 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.