Vertiv (NYSE:VRT) Shares Up 2% Following Dividend Announcement

Shares of Vertiv Holdings Co (NYSE:VRT) traded up 2% on Wednesday after the company announced a dividend. The company traded as high as $76.81 and last traded at $76.67. 2,155,109 shares traded hands during trading, a decline of 75% from the average session volume of 8,611,112 shares. The stock had previously closed at $75.20.

The newly announced dividend which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be given a $0.025 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VRT. TD Cowen raised their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group dropped their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and cut their price target for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Bank of America lifted their price objective on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research note on Thursday, August 15th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $96.22.

Vertiv Trading Up 0.4 %

The business has a 50 day moving average of $81.01 and a two-hundred day moving average of $83.81. The firm has a market capitalization of $28.24 billion, a price-to-earnings ratio of 72.26, a P/E/G ratio of 1.08 and a beta of 1.58. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion for 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%. Vertiv’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 earnings per share. Equities analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

A number of institutional investors and hedge funds have recently bought and sold shares of VRT. Bogart Wealth LLC bought a new stake in shares of Vertiv in the 1st quarter worth $25,000. Raleigh Capital Management Inc. boosted its holdings in Vertiv by 79.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after purchasing an additional 252 shares during the last quarter. Atticus Wealth Management LLC bought a new stake in Vertiv in the 1st quarter worth about $27,000. Mather Group LLC. increased its stake in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Vertiv during the 1st quarter worth approximately $34,000. 89.92% of the stock is owned by hedge funds and other 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.