Vertiv (NYSE:VRT) Stock Price Down 8.5% – What’s Next?

Vertiv Holdings Co (NYSE:VRT)’s share price dropped 8.5% during mid-day trading on Monday . The company traded as low as $121.84 and last traded at $122.50. Approximately 2,767,672 shares traded hands during trading, a decline of 66% from the average daily volume of 8,128,790 shares. The stock had previously closed at $133.85.

Analysts Set New Price Targets

Several analysts have recently issued reports on VRT shares. JPMorgan Chase & Co. upped their target price on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. UBS Group began coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Jefferies Financial Group began coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. The Goldman Sachs Group increased their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Bank of America raised their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $139.90.

Vertiv Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a 50 day moving average price of $118.10 and a 200 day moving average price of $97.40. The stock has a market cap of $47.70 billion, a PE ratio of 84.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.61.

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

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the sale, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 171,527 shares of company stock valued at $23,105,682. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several hedge funds have recently made changes to their positions in VRT. Anchor Investment Management LLC acquired a new stake in Vertiv during the 2nd quarter valued at approximately $26,000. Mather Group LLC. lifted its position in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Krane Funds Advisors LLC acquired a new stake in Vertiv during the 3rd quarter worth about $29,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv during the 3rd quarter valued at about $30,000. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in Vertiv by 200.0% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

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.