Evercore ISI Increases Vertiv (NYSE:VRT) Price Target to $105.00

Vertiv (NYSE:VRT) had its price target hoisted by Evercore ISI from $95.00 to $105.00 in a research note issued to investors on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Bank of America upped their target price on shares of Vertiv from $100.00 to $115.00 and gave the company a buy rating in a report on Wednesday, May 15th. Oppenheimer lifted 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. Citigroup raised their price objective on shares of Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Finally, Mizuho lifted their price objective on shares of Vertiv from $56.00 to $95.00 and gave the stock a neutral rating in a research note on Friday, April 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $92.11.

Vertiv Stock Down 2.1 %

NYSE:VRT opened at $89.54 on Friday. The stock has a market cap of $33.52 billion, a price-to-earnings ratio of 86.10, a PEG ratio of 1.33 and a beta of 1.56. 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 has a 50-day moving average price of $92.54 and a two-hundred day moving average price of $71.81. Vertiv has a 1 year low of $22.31 and a 1 year high of $109.27.

Vertiv (NYSE:VRT) last announced its quarterly earnings results 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. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, equities analysts expect that Vertiv will post 2.42 earnings per share for the current year.

Vertiv Announces Dividend

The business 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. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date is Monday, June 17th. Vertiv’s payout ratio is presently 9.62%.

Insider Transactions at Vertiv

In related news, Director Doherty Philip O’ sold 488,705 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the completion of the sale, the director now owns 11,835,476 shares of the company’s stock, valued at $1,108,747,391.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertiv news, insider Yibin Edward Cui sold 668 shares of the company’s stock in a transaction dated Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the sale, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director now directly owns 11,835,476 shares of the company’s stock, valued at $1,108,747,391.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,162,739 shares of company stock worth $400,713,362. Company insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Vertiv by 182.4% during the 3rd quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after buying an additional 30,511,907 shares during the last quarter. Norges Bank purchased a new stake in shares of Vertiv during the 4th quarter valued at $185,339,000. Price T Rowe Associates Inc. MD grew its position in 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 acquiring an additional 3,591,903 shares in the last quarter. Vanguard Group Inc. increased its stake in Vertiv by 12.1% in the third quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock valued at $1,176,590,000 after acquiring an additional 3,417,710 shares during the last quarter. Finally, Coatue Management LLC raised its position in Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other 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.