Vertiv (NYSE:VRT) Shares Down 1.7%

Shares of Vertiv Holdings Co (NYSE:VRT) dropped 1.7% on Wednesday . The stock traded as low as $90.90 and last traded at $91.18. Approximately 1,324,156 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 8,399,486 shares. The stock had previously closed at $92.76.

Analyst Upgrades and Downgrades

Several research firms recently commented on VRT. Evercore ISI raised their target price on Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Citigroup lifted their target price on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their price objective on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Bank of America increased their target price on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and an average price target of $92.11.

Vertiv Trading Down 1.3 %

The business’s 50 day simple moving average is $94.71 and its 200-day simple moving average is $76.95. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98. The stock has a market capitalization of $34.76 billion, a P/E ratio of 89.30, a PEG ratio of 1.37 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business earned $0.24 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Vertiv Holdings Co will post 2.43 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s dividend payout ratio is presently 9.62%.

Insider Activity at Vertiv

In related news, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now owns 6,882,859 shares in the company, valued at $752,296,488.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Doherty Philip O’ sold 9,529 shares of Vertiv stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the completion of the transaction, the director now owns 6,882,859 shares in the company, valued at $752,296,488.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction that occurred on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the transaction, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,162,739 shares of company stock valued at $400,713,362. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bogart Wealth LLC acquired a new stake in shares of Vertiv during the first quarter worth $25,000. GAMMA Investing LLC bought a new stake in shares of Vertiv during the 4th quarter valued at $26,000. Raleigh Capital Management Inc. grew its holdings in shares of Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after purchasing an additional 252 shares in the last quarter. Atticus Wealth Management LLC bought a new position in Vertiv in the 1st quarter valued at about $27,000. Finally, Mather Group LLC. boosted its stake in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds 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.