Vertiv (NYSE:VRT) Trading Up 3.3% Following Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT)’s share price traded up 3.3% during trading on Friday after TD Cowen raised their price target on the stock from $93.00 to $115.00. TD Cowen currently has a buy rating on the stock. Vertiv traded as high as $114.87 and last traded at $113.71. 2,276,383 shares were traded during mid-day trading, a decline of 73% from the average session volume of 8,357,734 shares. The stock had previously closed at $110.03.

Other research analysts have also issued reports about the stock. Bank of America increased their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group decreased their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Evercore ISI lifted their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer lifted their price target on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Citigroup raised their price objective on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $122.11.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

A number of hedge funds have recently bought and sold shares of VRT. Kingswood Wealth Advisors LLC purchased a new stake in shares of Vertiv in the 1st quarter valued at approximately $496,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of Vertiv by 2.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,794 shares of the company’s stock valued at $1,127,000 after buying an additional 273 shares during the last quarter. Independence Bank of Kentucky grew its position in Vertiv by 666.7% in the first quarter. Independence Bank of Kentucky now owns 1,150 shares of the company’s stock worth $94,000 after acquiring an additional 1,000 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in Vertiv in the first quarter worth $255,000. Finally, Atticus Wealth Management LLC acquired a new position in shares of Vertiv during the 1st quarter valued at about $27,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Performance

The company has a market cap of $42.57 billion, a P/E ratio of 109.34, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock’s 50-day moving average price is $92.92 and its 200 day moving average price is $89.97.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. Vertiv’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. As a group, research analysts expect that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. Vertiv’s payout ratio is 9.62%.

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.