Vertiv Holdings Co (NYSE:VRT – Get Free Report)’s share price rose 4% during mid-day trading on Friday . The company traded as high as $123.36 and last traded at $122.98. Approximately 1,661,571 shares were traded during trading, a decline of 47% from the average daily volume of 3,110,364 shares. The stock had previously closed at $118.30.
Analyst Upgrades and Downgrades
Several brokerages have commented on VRT. Citigroup upped their price objective on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Mizuho increased their price target on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group started coverage on Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Barclays began coverage on Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.09.
View Our Latest Stock Analysis on Vertiv
Vertiv Stock Up 6.2 %
Vertiv (NYSE:VRT – Get Free Report) last announced its quarterly 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. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. Vertiv’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. On average, equities analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.
Vertiv Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is 6.67%.
Insider Buying and Selling
In other Vertiv news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 19,448 shares in the company, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock worth $23,105,682 in the last three months. Insiders own 5.01% of the company’s stock.
Institutional Investors Weigh In On Vertiv
A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in shares of Vertiv by 6.1% in the second quarter. Principal Financial Group Inc. now owns 31,208 shares of the company’s stock worth $2,702,000 after acquiring an additional 1,789 shares during the period. CIBC Asset Management Inc lifted its holdings in Vertiv by 36.3% in the second quarter. CIBC Asset Management Inc now owns 12,770 shares of the company’s stock valued at $1,105,000 after acquiring an additional 3,401 shares during the period. TD Asset Management Inc boosted its position in Vertiv by 2.2% in the second quarter. TD Asset Management Inc now owns 57,812 shares of the company’s stock worth $5,005,000 after purchasing an additional 1,222 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Vertiv by 24.1% during the 2nd quarter. Private Advisor Group LLC now owns 36,866 shares of the company’s stock valued at $3,191,000 after purchasing an additional 7,163 shares during the period. Finally, Candriam S.C.A. increased its position in shares of Vertiv by 995.0% during the 2nd quarter. Candriam S.C.A. now owns 269,707 shares of the company’s stock valued at $23,347,000 after purchasing an additional 245,077 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other 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.
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