Vertiv (NYSE:VRT) Price Target Raised to $140.00

Vertiv (NYSE:VRT) had its price target raised by The Goldman Sachs Group from $126.00 to $140.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Mizuho boosted their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday. Evercore ISI boosted their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Bank of America boosted their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer boosted their target price on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Price Performance

Shares of NYSE VRT opened at $140.94 on Tuesday. Vertiv has a twelve month low of $41.01 and a twelve month high of $141.12. The firm has a market cap of $52.90 billion, a P/E ratio of 93.96, a PEG ratio of 1.31 and a beta of 1.58. The company has a 50 day moving average of $107.65 and a 200 day moving average of $94.27. 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 announced its quarterly earnings data 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 during 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 for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 EPS. As a group, research analysts expect that Vertiv will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

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

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Old West Investment Management LLC boosted its holdings in Vertiv by 44.1% in the 3rd 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. boosted its holdings in Vertiv by 9.5% in the 3rd quarter. TCW Group Inc. now owns 498,387 shares of the company’s stock worth $49,585,000 after buying an additional 43,148 shares during the period. Virtue Capital Management LLC boosted its holdings in shares of Vertiv by 1.2% during the 3rd quarter. Virtue Capital Management LLC now owns 15,061 shares of the company’s stock valued at $1,498,000 after purchasing an additional 177 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Vertiv by 26.6% during the third quarter. Toronto Dominion Bank now owns 43,521 shares of the company’s stock valued at $4,330,000 after purchasing an additional 9,150 shares in the last quarter. Finally, TT International Asset Management LTD grew its position in shares of Vertiv by 746.5% during the third quarter. TT International Asset Management LTD now owns 50,098 shares of the company’s stock valued at $4,984,000 after purchasing an additional 44,180 shares in 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.