Vertiv (NYSE:VRT) Shares Down 1.2% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price dropped 1.2% during mid-day trading on Tuesday . The stock traded as low as $114.10 and last traded at $114.72. Approximately 912,378 shares were traded during trading, a decline of 89% from the average daily volume of 7,971,463 shares. The stock had previously closed at $116.16.

Analyst Upgrades and Downgrades

VRT has been the topic of several research analyst reports. Mizuho increased their price objective on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Citigroup increased their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. UBS Group assumed coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Finally, 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 report on Thursday, October 24th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.09.

Vertiv Trading Down 2.2 %

The stock has a market capitalization of $42.64 billion, a P/E ratio of 75.74, a P/E/G ratio of 1.29 and a beta of 1.61. The firm’s 50 day simple moving average is $122.38 and its two-hundred day simple moving average is $100.30. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

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

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were given a $0.0375 dividend. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio is presently 6.67%.

Insiders Place Their Bets

In related news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the sale, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock valued at $23,105,682 in the last three months. 5.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in Vertiv by 6.1% in the 2nd quarter. Principal Financial Group Inc. now owns 31,208 shares of the company’s stock valued at $2,702,000 after acquiring an additional 1,789 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Vertiv during the 2nd quarter valued at approximately $101,000. Commonwealth Equity Services LLC boosted its holdings in Vertiv by 50.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 95,937 shares of the company’s stock worth $8,305,000 after buying an additional 32,325 shares during the period. Farther Finance Advisors LLC grew its stake in Vertiv by 85.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,909 shares of the company’s stock valued at $339,000 after buying an additional 1,800 shares in the last quarter. Finally, Valmark Advisers Inc. bought a new stake in Vertiv during the 2nd quarter valued at $266,000. 89.92% of the stock is owned by institutional investors.

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.