Vertiv (NYSE:VRT) Trading Up 2% – Here’s Why

Vertiv Holdings Co (NYSE:VRT)’s stock price shot up 2% during mid-day trading on Thursday . The stock traded as high as $105.25 and last traded at $104.32. 2,484,551 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 8,452,728 shares. The stock had previously closed at $102.28.

Wall Street Analysts Forecast Growth

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

Vertiv Price Performance

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 stock has a 50 day moving average price of $82.73 and a 200-day moving average price of $87.19. The stock has a market capitalization of $39.38 billion, a price-to-earnings ratio of 101.14, a price-to-earnings-growth ratio of 1.26 and a beta of 1.58.

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

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is currently 9.62%.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction 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 transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Vertiv in the 2nd quarter valued at $331,091,000. Price T Rowe Associates Inc. MD increased its holdings in Vertiv by 303.1% during 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 period. Coatue Management LLC increased its holdings in Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after purchasing an additional 2,249,353 shares during the period. Vanguard Group Inc. increased its holdings in 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 during the period. Finally, Castle Hook Partners LP purchased a new stake in Vertiv during the 1st quarter worth about $135,987,000. 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.