Vertiv (NYSE:VRT) Stock Price Down 4.8% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) was down 4.8% during trading on Monday . The company traded as low as $118.70 and last traded at $122.79. Approximately 3,069,227 shares changed hands during trading, a decline of 48% from the average daily volume of 5,929,830 shares. The stock had previously closed at $128.93.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Fox Advisors initiated coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating for the company. UBS Group started 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. Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Evercore ISI boosted their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Vertiv has an average rating of “Moderate Buy” and a consensus price target of $140.92.

Vertiv Trading Down 4.6 %

The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock’s fifty day moving average price is $124.74 and its 200 day moving average price is $102.19. The stock has a market cap of $46.18 billion, a P/E ratio of 82.02, a PEG ratio of 1.29 and a beta of 1.63.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Equities research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.0375 per share. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. Vertiv’s payout ratio is presently 6.67%.

Insiders Place Their Bets

In related news, Director Jan Van Dokkum sold 38,647 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $136.39, for a total value of $5,271,064.33. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. This represents a 60.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VRT. Jennison Associates LLC boosted its position in Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Vertiv in the second quarter worth approximately $331,091,000. Wellington Management Group LLP grew its position in Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after buying an additional 2,860,181 shares during the period. Castle Hook Partners LP increased its holdings in Vertiv by 215.6% during the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after buying an additional 1,273,746 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in Vertiv in the third quarter worth approximately $110,517,000. 89.92% of the stock is owned by institutional investors.

About Vertiv

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.