Vertiv (NYSE:VRT) Trading Down 3.1%

Shares of Vertiv Holdings Co (NYSE:VRT) dropped 3.1% during trading on Friday . The company traded as low as $96.72 and last traded at $97.55. Approximately 2,730,011 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 8,514,530 shares. The stock had previously closed at $100.62.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VRT shares. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. The Goldman Sachs Group lowered their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Finally, TD Cowen boosted their price target on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $102.13.

Vertiv Trading Down 2.2 %

The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The business has a 50-day simple moving average of $80.81 and a two-hundred day simple moving average of $86.34. The stock has a market cap of $36.84 billion, a price-to-earnings ratio of 94.63, a P/E/G ratio of 1.26 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $0.46 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. Equities analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’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 completion of the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.01% of the stock is owned by company insiders.

Institutional Trading of Vertiv

Several hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in Vertiv during the 2nd quarter worth $331,091,000. Price T Rowe Associates Inc. MD raised its stake in Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after purchasing an additional 3,591,903 shares in the last quarter. Coatue Management LLC boosted its holdings in Vertiv by 19.5% in the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the period. Vanguard Group Inc. grew its position in shares of Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares in the last quarter. Finally, Castle Hook Partners LP bought a new position in shares of Vertiv during the first quarter worth approximately $135,987,000. 89.92% of the stock is owned by institutional investors and hedge funds.

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.