Vertiv (NYSE:VRT) Lifted to Outperform at Mizuho

Mizuho upgraded shares of Vertiv (NYSE:VRT) from a neutral rating to an outperform rating in a research report report published on Wednesday morning, MarketBeat reports. The firm currently has $92.00 price objective on the stock, down from their prior price objective of $95.00.

Several other brokerages have also recently issued reports on VRT. Bank of America upped their price objective on Vertiv from $100.00 to $115.00 and gave the company a buy rating in a research note on Wednesday, May 15th. Citigroup upped their price target on Vertiv from $102.00 to $110.00 and gave the company a buy rating in a research report on Thursday, April 25th. Oppenheimer lifted their price objective on shares of Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a report on Thursday, April 25th. TD Cowen increased their target price on shares of Vertiv from $89.00 to $93.00 and gave the stock a buy rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their price target on shares of Vertiv from $116.00 to $104.00 and set a buy rating for the company in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $96.22.

Vertiv Stock Up 0.6 %

Shares of Vertiv stock opened at $71.46 on Wednesday. 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 has a 1-year low of $32.38 and a 1-year high of $109.27. The business has a 50-day moving average of $85.89 and a 200-day moving average of $81.45. The company has a market capitalization of $26.75 billion, a PE ratio of 68.71, a P/E/G ratio of 0.97 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $0.46 EPS. Vertiv’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts forecast that Vertiv will post 2.58 EPS for the current fiscal 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 $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.14%. Vertiv’s payout ratio is currently 9.62%.

Insider Activity

In related news, Director Roger Fradin sold 16,667 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $103.86, for a total value of $1,731,034.62. Following the completion of the transaction, the director now directly 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 accessible through this link. In related news, Director Roger Fradin sold 16,667 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total value of $1,731,034.62. Following the completion of the sale, the director now owns 218,333 shares of the company’s stock, valued at $22,676,065.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Doherty Philip O’ sold 1,089,669 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 8,234,512 shares of the company’s stock, valued at approximately $850,954,470.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,115,865 shares of company stock valued at $115,378,949. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRT. Vanguard Group Inc. lifted its holdings in Vertiv by 5.5% in 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 last quarter. Coatue Management LLC boosted its holdings in Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after buying an additional 2,249,353 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares during the last quarter. Norges Bank acquired a new position in Vertiv in the fourth quarter worth approximately $185,339,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv in the second quarter valued at $331,091,000. Institutional investors 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.