JPMorgan Chase & Co. Issues Positive Forecast for Vertiv (NYSE:VRT) Stock Price

Vertiv (NYSE:VRT) had its price target boosted by JPMorgan Chase & Co. from $124.00 to $132.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group dropped 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. TD Cowen lifted their target price on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Oppenheimer lifted their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday. Evercore ISI lifted their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Mizuho lifted their price target on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv presently has an average rating of “Buy” and an average target price of $138.50.

Vertiv Trading Up 14.6 %

NYSE:VRT opened at $140.94 on Tuesday. The business’s 50-day moving average is $107.65 and its two-hundred day moving average is $94.27. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv has a 12 month low of $41.01 and a 12 month high of $141.12. The firm has a market capitalization of $52.90 billion, a PE ratio of 93.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58.

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

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Old West Investment Management LLC boosted its position in shares of Vertiv by 44.1% during the third quarter. Old West Investment Management LLC now owns 28,372 shares of the company’s stock worth $2,823,000 after buying an additional 8,683 shares during the period. TCW Group Inc. raised its holdings in Vertiv by 9.5% during the third quarter. TCW Group Inc. now owns 498,387 shares of the company’s stock worth $49,585,000 after purchasing an additional 43,148 shares in the last quarter. Virtue Capital Management LLC raised its holdings in Vertiv by 1.2% during the third quarter. Virtue Capital Management LLC now owns 15,061 shares of the company’s stock worth $1,498,000 after purchasing an additional 177 shares in the last quarter. Toronto Dominion Bank raised its holdings in Vertiv by 26.6% during the third quarter. Toronto Dominion Bank now owns 43,521 shares of the company’s stock worth $4,330,000 after purchasing an additional 9,150 shares in the last quarter. Finally, TT International Asset Management LTD raised its holdings in Vertiv by 746.5% during the third quarter. TT International Asset Management LTD now owns 50,098 shares of the company’s stock worth $4,984,000 after purchasing an additional 44,180 shares in the last quarter. 89.92% of the stock is currently 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.