Vertiv (NYSE:VRT) Hits New 1-Year High Following Dividend Announcement

Vertiv Holdings Co (NYSE:VRT)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $131.33 and last traded at $131.12, with a volume of 2929031 shares traded. The stock had previously closed at $123.02.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America lifted their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Mizuho raised their price target on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group assumed coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective on the stock. TD Cowen raised their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Stock Up 14.6 %

The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock has a market cap of $52.90 billion, a price-to-earnings ratio of 93.96, a P/E/G ratio of 1.31 and a beta of 1.58. The firm’s 50 day moving average is $107.65 and its two-hundred day moving average is $94.27.

Vertiv (NYSE:VRT) last released 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 business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC increased its position in shares of Vertiv by 25.1% during the third quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after acquiring an additional 92 shares during the last quarter. Allworth Financial LP grew its position in shares of Vertiv by 18.6% during the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after buying an additional 100 shares during the last quarter. NBC Securities Inc. raised its position in shares of Vertiv by 0.9% during the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock worth $1,305,000 after purchasing an additional 112 shares during the period. Nvwm LLC increased its position in Vertiv by 1.3% in the third quarter. Nvwm LLC now owns 10,035 shares of the company’s stock worth $998,000 after buying an additional 124 shares during the period. Finally, Callan Family Office LLC increased its holdings in shares of Vertiv by 0.9% in the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.