Vertiv (NYSE:VRT) Shares Down 0.6% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT) shares dropped 0.6% during mid-day trading on Tuesday . The stock traded as low as $109.55 and last traded at $111.96. Approximately 2,823,423 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 10,242,553 shares. The stock had previously closed at $112.60.

Analysts Set New Price Targets

A number of analysts recently weighed in on VRT shares. Morgan Stanley began coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 target price on the stock. Evercore ISI reduced their price objective on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Barclays initiated coverage on shares of Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price objective for the company. The Goldman Sachs Group increased their target price on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup upped their price objective on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and an average target price of $139.36.

Vertiv Stock Up 0.4 %

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 firm has a market capitalization of $44.85 billion, a price-to-earnings ratio of 79.66, a PEG ratio of 0.92 and a beta of 1.64. The business’s fifty day moving average price is $124.67 and its 200 day moving average price is $106.78.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.13%. The ex-dividend date was Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is 6.67%.

Insider Buying and Selling at Vertiv

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jan Van Dokkum sold 38,647 shares of the 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 trade represents a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock valued at $23,105,682 in the last ninety days. Insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

A number of large investors have recently made changes to their positions in the stock. Silverleafe Capital Partners LLC purchased a new position in Vertiv in the fourth quarter valued at about $4,219,000. Foundations Investment Advisors LLC grew its holdings in shares of Vertiv by 7.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock worth $21,076,000 after acquiring an additional 13,559 shares during the period. Whittier Trust Co. increased its stake in Vertiv by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after purchasing an additional 8,579 shares in the last quarter. Janney Capital Management LLC acquired a new position in shares of Vertiv during the 3rd quarter worth $8,403,000. Finally, Gordian Capital Singapore Pte Ltd boosted its position in shares of Vertiv by 112.5% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock worth $846,000 after buying an additional 4,500 shares in 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.