Vertiv (NYSE:VRT) Shares Down 8%

Vertiv Holdings Co (NYSE:VRT)’s share price dropped 8% on Friday . The company traded as low as $65.83 and last traded at $68.11. Approximately 7,610,413 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 8,706,217 shares. The stock had previously closed at $74.00.

Wall Street Analyst Weigh In

VRT has been the topic of a number of research reports. Evercore ISI raised 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. TD Cowen lifted their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Citigroup upped their price target 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, Oppenheimer raised their price objective on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Vertiv Stock Performance

The company has a current ratio of 1.36, a quick ratio of 0.98 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 66.23, a price-to-earnings-growth ratio of 1.03 and a beta of 1.58. The stock has a 50-day simple moving average of $89.98 and a 200-day simple moving average of $80.50.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS. On average, analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s payout ratio is currently 9.62%.

Insiders Place Their Bets

In related news, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now directly owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Roger Fradin sold 16,667 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $103.86, for a total transaction of $1,731,034.62. Following the sale, the director now directly owns 218,333 shares in the company, valued at approximately $22,676,065.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doherty Philip O’ sold 9,529 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the transaction, 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 1,116,533 shares of company stock valued at $115,442,001 in the last quarter. Insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several institutional investors have recently modified their holdings of VRT. Bogart Wealth LLC bought a new stake in shares of Vertiv during the first quarter valued at about $25,000. Atticus Wealth Management LLC bought a new stake in shares of Vertiv during the 1st quarter worth about $27,000. Mather Group LLC. lifted its stake in shares of Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. OFI Invest Asset Management bought a new position in shares of Vertiv in the second quarter valued at approximately $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Vertiv during the first quarter valued at approximately $34,000. Institutional investors own 89.92% of the company’s stock.

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.