Vertiv (NYSE:VRT) Shares Up 8.4% After Dividend Announcement

Vertiv Holdings Co (NYSE:VRT)’s share price was up 8.4% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $133.46 and last traded at $133.40. Approximately 4,085,914 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 8,146,420 shares. 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 paid a dividend of $0.0375 per share. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.11%. Vertiv’s payout ratio is presently 6.67%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VRT. The Goldman Sachs Group boosted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen boosted their target price on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group assumed coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target for the company. Bank of America upped 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. Finally, Oppenheimer upped their target price on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and a consensus price target of $138.50.

Vertiv Trading Down 2.4 %

The company’s 50 day simple moving average is $108.75 and its two-hundred day simple moving average is $94.57. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The stock has a market cap of $51.63 billion, a price-to-earnings ratio of 91.71, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58.

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

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the company’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 sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.01% of the stock is currently owned by insiders.

Institutional Trading of Vertiv

Several large investors have recently made changes to their positions in VRT. Jennison Associates LLC boosted its stake 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 valued at $457,695,000 after purchasing an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv in the 2nd quarter worth $331,091,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 during the last quarter. Wellington Management Group LLP boosted its position 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 worth $389,548,000 after purchasing an additional 2,860,181 shares during the last quarter. Finally, Castle Hook Partners LP boosted its position in shares of Vertiv by 215.6% in the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after purchasing an additional 1,273,746 shares during the last quarter. 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.