Vertiv Holdings Co (NYSE:VRT – Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $148.62 and last traded at $151.61, with a volume of 124542 shares traded. The stock had previously closed at $143.13.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Barclays started coverage on shares of Vertiv in a research note on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, UBS Group initiated coverage on shares of Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.75.
Check Out Our Latest Stock Report on Vertiv
Vertiv Stock Performance
Vertiv (NYSE:VRT – Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. Equities analysts predict that Vertiv Holdings Co will post 2.7 EPS for the current fiscal year.
Vertiv Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.10%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.
Insider Activity
In related news, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. This trade represents a 81.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in VRT. State Street Corp lifted its position in shares of Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after purchasing an additional 308,704 shares during the last quarter. Geode Capital Management LLC raised its stake in Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after buying an additional 408,054 shares in the last quarter. Jennison Associates LLC lifted its holdings in Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after buying an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of Vertiv by 1.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after acquiring an additional 40,696 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
About Vertiv
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.
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