Vertiv (NYSE:VRT) Stock Price Up 2.2%

Vertiv Holdings Co (NYSE:VRT)’s stock price traded up 2.2% during trading on Monday . The company traded as high as $73.42 and last traded at $73.04. 2,320,073 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 8,801,859 shares. The stock had previously closed at $71.46.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on VRT shares. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Bank of America boosted their price target on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Evercore ISI increased their price objective on shares of Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Finally, Oppenheimer boosted their target price on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus price target of $96.22.

Vertiv Price Performance

The stock’s 50 day moving average is $85.11 and its two-hundred day moving average is $81.95. The stock has a market capitalization of $30.01 billion, a PE ratio of 77.46, a price-to-earnings-growth ratio of 0.97 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 posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. As a group, sell-side analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Insider Activity

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several hedge funds have recently made changes to their positions in VRT. Aristeia Capital L.L.C. acquired a new position in Vertiv during the second quarter worth approximately $656,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Vertiv by 60.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,495 shares of the company’s stock valued at $6,016,000 after acquiring an additional 26,231 shares during the period. Gateway Advisory LLC purchased a new stake in Vertiv in the 2nd quarter valued at $603,000. Morse Asset Management Inc acquired a new stake in Vertiv during the 2nd quarter worth $1,094,000. Finally, Xponance Inc. grew its position in Vertiv by 101.8% during the 2nd quarter. Xponance Inc. now owns 63,703 shares of the company’s stock worth $5,515,000 after purchasing an additional 32,129 shares during the last quarter. Hedge funds and other 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.