Vertiv (NYSE:VRT) Stock Price Down 2.8% After Insider Selling

Shares of Vertiv Holdings Co (NYSE:VRT) dropped 2.8% during trading on Monday following insider selling activity. The stock traded as low as $135.13 and last traded at $136.29. Approximately 2,138,548 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 8,177,827 shares. The stock had previously closed at $140.15.

Specifically, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. This trade represents a 81.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group initiated coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target for the company. Oppenheimer increased their price target on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Mizuho upped their target price on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. TD Cowen lifted their target price on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group assumed coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a 50 day moving average of $110.94 and a 200-day moving average of $95.18. The company has a market cap of $51.16 billion, a P/E ratio of 90.86, a PEG ratio of 1.44 and a beta of 1.58.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Institutional Investors Weigh In On Vertiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new position in shares of Vertiv during the 2nd quarter worth about $26,000. Mather Group LLC. increased its holdings 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 purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Vertiv during the third quarter worth $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the third quarter valued at $30,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

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.