Vertiv (NYSE:VRT) Trading Up 4.4%

Vertiv Holdings Co (NYSE:VRT) shot up 4.4% during mid-day trading on Wednesday . The stock traded as high as $92.36 and last traded at $91.87. 2,785,664 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 8,485,102 shares. The stock had previously closed at $88.00.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VRT. The Goldman Sachs Group lifted their price objective on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. lifted their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Evercore ISI boosted their price objective on Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Mizuho raised their target price on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, Bank of America boosted their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.11.

Vertiv Stock Performance

The business’s 50-day moving average is $94.44 and its 200 day moving average is $75.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market cap of $34.74 billion, a PE ratio of 89.06, a PEG ratio of 1.26 and a beta of 1.58.

Vertiv (NYSE:VRT) last released its 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. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the company posted $0.24 EPS. Vertiv’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Vertiv Holdings Co will post 2.43 EPS for the current fiscal year.

Vertiv Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Anders Karlborg sold 46,206 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the sale, the executive vice president now directly owns 23,003 shares in the company, valued at $2,156,531.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vertiv news, EVP Anders Karlborg sold 46,206 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the transaction, the executive vice president now owns 23,003 shares of the company’s stock, valued at approximately $2,156,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The disclosure for this sale can be found here. Insiders have sold a total of 4,162,739 shares of company stock valued at $400,713,362 in the last quarter. Insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VRT. Nordea Investment Management AB purchased a new position in shares of Vertiv during the fourth quarter valued at about $1,040,000. PNC Financial Services Group Inc. raised its position in shares of Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock worth $634,000 after acquiring an additional 9,870 shares in the last quarter. Xponance Inc. lifted its stake in shares of Vertiv by 2.9% in the 4th quarter. Xponance Inc. now owns 14,984 shares of the company’s stock valued at $720,000 after purchasing an additional 426 shares during the period. California State Teachers Retirement System boosted its position in shares of Vertiv by 58.8% during the fourth quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock valued at $26,312,000 after purchasing an additional 202,766 shares in the last quarter. Finally, WT Asset Management Ltd purchased a new stake in Vertiv in the fourth quarter worth $24,486,000. 89.92% of the stock is 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.