TD Cowen Forecasts Strong Price Appreciation for Vertiv (NYSE:VRT) Stock

Vertiv (NYSE:VRT) had its price target lifted by TD Cowen from $115.00 to $141.00 in a research report sent to investors on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Bank of America lifted their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. 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 research report on Thursday, October 24th. Mizuho increased their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Performance

NYSE VRT opened at $140.15 on Tuesday. The firm has a market cap of $52.60 billion, a price-to-earnings ratio of 93.43, a PEG ratio of 1.53 and a beta of 1.58. The company has a 50-day simple moving average of $110.94 and a two-hundred day simple moving average of $95.19. 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 has a 12-month low of $41.01 and a 12-month high of $145.67.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. Vertiv’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. On average, equities analysts forecast that Vertiv will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Insider Transactions at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,185 shares of company stock valued at $10,074,936. Corporate insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently added to or reduced their stakes in VRT. Jennison Associates LLC raised its holdings in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after acquiring an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv in the 2nd quarter worth $331,091,000. Price T Rowe Associates Inc. MD raised its stake in shares of Vertiv by 303.1% in the first 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 last quarter. Wellington Management Group LLP lifted its holdings in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Finally, Castle Hook Partners LP boosted its position in shares of Vertiv by 215.6% during the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after buying an additional 1,273,746 shares during the last quarter. 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.