Vertiv (NYSE:VRT) Shares Down 4.8%

Vertiv Holdings Co (NYSE:VRT) traded down 4.8% during trading on Monday . The stock traded as low as $86.88 and last traded at $87.11. 3,584,276 shares were traded during trading, a decline of 57% from the average session volume of 8,311,875 shares. The stock had previously closed at $91.48.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VRT. Bank of America lifted their target price on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Citigroup boosted their price target on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Oppenheimer boosted their target price on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group increased their price target on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.11.

Vertiv Stock Performance

The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09. The stock’s 50 day moving average price is $92.44 and its 200 day moving average price is $71.48. The firm has a market cap of $33.45 billion, a PE ratio of 83.76, a P/E/G ratio of 1.33 and a beta of 1.56.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Vertiv Holdings Co will post 2.42 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Monday, June 17th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s payout ratio is currently 9.62%.

Insider Transactions at Vertiv

In related news, Director Doherty Philip O’ sold 488,705 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the completion of the sale, the director now owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Doherty Philip O’ sold 488,705 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the transaction, the director now directly owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the sale, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The disclosure for this sale can be found here. Insiders have sold 4,162,739 shares of company stock valued at $400,713,362 over the last three months. Company insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several large investors have recently modified their holdings of VRT. Norges Bank bought a new stake in shares of Vertiv in the fourth quarter valued at approximately $185,339,000. Price T Rowe Associates Inc. MD grew its position in Vertiv by 303.1% in 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 last quarter. Vanguard Group Inc. increased its holdings in shares of Vertiv by 12.1% during the 3rd quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock worth $1,176,590,000 after purchasing an additional 3,417,710 shares during the period. Coatue Management LLC lifted its stake in shares of Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after buying an additional 2,249,353 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in Vertiv by 1,032.5% during the third quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company’s stock worth $84,031,000 after buying an additional 2,059,431 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

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.