Vertiv (NYSE:VRT) Given New $145.00 Price Target at Evercore ISI

Vertiv (NYSE:VRT) had its price objective decreased by Evercore ISI from $150.00 to $145.00 in a report published on Friday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the company. Mizuho lifted their price target on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Oppenheimer lifted their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Morgan Stanley started coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 price target on the stock. UBS Group initiated coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.75.

Vertiv Price Performance

NYSE:VRT opened at $135.94 on Friday. The company has a market cap of $51.02 billion, a P/E ratio of 90.63, a P/E/G ratio of 0.99 and a beta of 1.63. The firm’s fifty day moving average price is $125.86 and its two-hundred day moving average price is $103.16. Vertiv has a one year low of $49.67 and a one year high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last announced its quarterly 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. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 EPS. Equities analysts expect that Vertiv will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.0375 per share. The ex-dividend date was Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.11%. Vertiv’s dividend payout ratio is presently 6.67%.

Insider Activity

In related news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This represents a 61.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the sale, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,527 shares of company stock worth $23,105,682. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position in Vertiv by 57.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,616 shares of the company’s stock valued at $919,000 after purchasing an additional 3,876 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Vertiv by 12.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 352,548 shares of the company’s stock valued at $30,520,000 after buying an additional 38,822 shares during the last quarter. Moors & Cabot Inc. boosted its position in Vertiv by 23.2% during the 2nd quarter. Moors & Cabot Inc. now owns 5,625 shares of the company’s stock worth $487,000 after buying an additional 1,060 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Vertiv by 166.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,730 shares of the company’s stock worth $1,015,000 after buying an additional 7,327 shares during the period. Finally, Amalgamated Bank grew its holdings in Vertiv by 18.2% during the 2nd quarter. Amalgamated Bank now owns 24,195 shares of the company’s stock worth $2,095,000 after acquiring an additional 3,734 shares during the last quarter. Institutional investors and hedge funds 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.