Vertiv (NYSE:VRT) Shares Down 0.9% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) shares dropped 0.9% during trading on Monday . The company traded as low as $104.58 and last traded at $105.89. Approximately 1,570,755 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 8,256,960 shares. The stock had previously closed at $106.90.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VRT shares. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Evercore ISI upped their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Bank of America increased their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Citigroup increased their price target on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group cut their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv currently has an average rating of “Buy” and a consensus target price of $122.11.

Vertiv Stock Performance

The stock has a fifty day moving average of $96.92 and a 200-day moving average of $91.26. The stock has a market capitalization of $40.24 billion, a PE ratio of 70.59, a price-to-earnings-growth ratio of 1.19 and a beta of 1.58. The company has a quick ratio of 1.00, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

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

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Institutional investors have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC purchased a new stake in Vertiv during the 3rd quarter worth $29,000. Anchor Investment Management LLC purchased a new position in Vertiv in the 2nd quarter valued at about $26,000. Global Trust Asset Management LLC purchased a new position in Vertiv in the 3rd quarter valued at about $30,000. Mather Group LLC. boosted its position 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, ORG Wealth Partners LLC purchased a new position in Vertiv in the 3rd quarter valued at about $36,000. 89.92% of the stock is owned by hedge funds and other 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.