Vertiv (NYSE:VRT) Shares Down 1.6%

Shares of Vertiv Holdings Co (NYSE:VRT) traded down 1.6% during mid-day trading on Thursday . The stock traded as low as $90.76 and last traded at $92.63. 2,179,618 shares traded hands during trading, a decline of 74% from the average session volume of 8,374,567 shares. The stock had previously closed at $94.10.

Wall Street Analyst Weigh In

VRT has been the topic of several research analyst reports. Citigroup upped their price objective on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group lifted their price objective on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Evercore ISI increased their price target on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Bank of America raised their price target on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Mizuho increased their target price on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.11.

Vertiv Stock Performance

The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09. The stock’s 50 day moving average price is $94.70 and its 200 day moving average price is $76.84. The company has a market capitalization of $34.76 billion, a price-to-earnings ratio of 89.07, a P/E/G ratio of 1.34 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. Analysts expect that Vertiv Holdings Co will post 2.43 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Buying and Selling at Vertiv

In other news, EVP Anders Karlborg sold 46,206 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $93.75, for a total value of $4,331,812.50. Following the transaction, the executive vice president now directly owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Doherty Philip O’ sold 488,705 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the completion of the sale, the director now owns 11,835,476 shares of the company’s stock, valued at $1,108,747,391.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Anders Karlborg sold 46,206 shares of Vertiv stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the sale, the executive vice president now owns 23,003 shares of the company’s stock, valued at approximately $2,156,531.25. The disclosure for this sale can be found here. Insiders sold 4,162,739 shares of company stock valued at $400,713,362 in the last quarter. 5.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vertiv

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after acquiring an additional 1,766,784 shares during the period. Coatue Management LLC raised its position in shares of Vertiv by 19.5% in the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after buying an additional 2,249,353 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after acquiring an additional 3,591,903 shares during the period. Norges Bank bought a new position in Vertiv in the fourth quarter valued at approximately $185,339,000. Finally, Westfield Capital Management Co. LP raised its position in Vertiv by 85.2% during the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. 89.92% of the stock is currently owned by 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.