Vertiv (NYSE:VRT) Shares Down 8%

Vertiv Holdings Co (NYSE:VRT) shares fell 8% on Friday . The company traded as low as $65.83 and last traded at $68.11. 7,610,413 shares changed hands during trading, a decline of 13% from the average session volume of 8,706,217 shares. The stock had previously closed at $74.00.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup boosted their price objective on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group cut their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. TD Cowen boosted their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Oppenheimer raised their price target on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, Evercore ISI upped 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

Vertiv Stock Performance

The business has a fifty day simple moving average of $89.98 and a two-hundred day simple moving average of $80.50. The company has a market cap of $25.69 billion, a PE ratio of 66.23, a price-to-earnings-growth ratio of 1.03 and a beta of 1.58. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.98.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. Research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders 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 yield of 0.15%. Vertiv’s payout ratio is presently 9.62%.

Insider Transactions at Vertiv

In related news, Director Roger Fradin sold 16,667 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total transaction of $1,731,034.62. Following the completion of the transaction, the director now directly owns 218,333 shares in the company, valued at $22,676,065.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Roger Fradin sold 16,667 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total transaction of $1,731,034.62. Following the sale, the director now owns 218,333 shares of the company’s stock, valued at approximately $22,676,065.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doherty Philip O’ sold 1,089,669 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $103.34, for a total transaction of $112,606,394.46. Following the sale, the director now owns 8,234,512 shares in the company, valued at approximately $850,954,470.08. The disclosure for this sale can be found here. Insiders sold a total of 1,116,533 shares of company stock worth $115,442,001 over the last three months. 5.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vertiv

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Vertiv during the 4th quarter worth approximately $185,339,000. Price T Rowe Associates Inc. MD lifted its holdings in Vertiv by 303.1% in the 1st 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. Coatue Management LLC boosted its stake in Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Vertiv by 5.5% during the first 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. Finally, Castle Hook Partners LP acquired a new stake in shares of Vertiv in the first quarter valued at about $135,987,000. 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.