Vertiv (NYSE:VRT) Price Target Raised to $135.00

Vertiv (NYSE:VRT) had its price target raised by Evercore ISI from $125.00 to $135.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also commented on VRT. Mizuho raised their price target on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday. TD Cowen raised their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup raised their price objective on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv presently has an average rating of “Buy” and an average target price of $122.11.

Vertiv Trading Up 1.9 %

Shares of NYSE:VRT opened at $112.17 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company’s 50-day moving average price is $93.57 and its 200 day moving average price is $90.23. The company has a market cap of $42.08 billion, a PE ratio of 87.63, a P/E/G ratio of 1.47 and a beta of 1.59. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue was up 19.0% on a year-over-year basis. Sell-side analysts anticipate that Vertiv will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s payout ratio is 7.81%.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vertiv

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 valued at $390,143,000 after purchasing an additional 3,591,903 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv in the second quarter worth $331,091,000. Westfield Capital Management Co. LP grew its holdings in shares of 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 buying an additional 1,563,466 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Vertiv by 17.7% during the first quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock valued at $245,189,000 after buying an additional 451,830 shares during the period. Institutional investors and hedge funds 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.