Vertiv (NYSE:VRT) Trading 2.9% Higher – Still a Buy?

Vertiv Holdings Co (NYSE:VRT) shares shot up 2.9% during mid-day trading on Thursday . The stock traded as high as $124.60 and last traded at $123.94. 2,616,177 shares were traded during trading, a decline of 68% from the average session volume of 8,221,738 shares. The stock had previously closed at $120.43.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of research reports. Bank of America increased their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen raised their target price on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group lowered their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Mizuho boosted their price objective on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $122.11.

Vertiv Price Performance

The stock has a market capitalization of $47.20 billion, a price-to-earnings ratio of 83.86, a P/E/G ratio of 1.31 and a beta of 1.58. The business has a 50-day simple moving average of $99.77 and a two-hundred day simple moving average of $92.11. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 6.67%.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.01% of the stock is currently owned by insiders.

Institutional Trading of Vertiv

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 valued at $390,143,000 after purchasing an additional 3,591,903 shares in the last quarter. Jennison Associates LLC increased its position in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv in the 2nd quarter valued at approximately $331,091,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after buying an additional 1,563,466 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.