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

Vertiv (NYSE:VRT) had its price target boosted by Citigroup from $134.00 to $141.00 in a report issued on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also issued reports about the company. TD Cowen raised their price target on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Bank of America boosted their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Oppenheimer increased their price target on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv presently has an average rating of “Buy” and an average target price of $138.50.

Vertiv Stock Down 0.9 %

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 debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The company’s 50 day simple moving average is $110.94 and its 200-day simple moving average is $95.19. The firm has a market capitalization of $52.60 billion, a PE ratio of 93.43, a P/E/G ratio of 1.53 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. Equities analysts expect that Vertiv will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently declared 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 is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.11%. Vertiv’s payout ratio is 6.67%.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the transaction, the director now owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This trade represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,185 shares of company stock valued at $10,074,936 over the last 90 days. 5.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after purchasing an additional 308,704 shares in the last quarter. Geode Capital Management LLC increased its holdings in Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after buying an additional 408,054 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares in the last quarter. Jennison Associates LLC grew its position in shares of Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after acquiring an additional 4,558,306 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares during the last quarter. 89.92% of the stock is currently 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.