Vertiv (NYSE:VRT) Trading Up 3.3% on Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT)’s share price rose 3.3% during trading on Friday after TD Cowen raised their price target on the stock from $93.00 to $115.00. TD Cowen currently has a buy rating on the stock. Vertiv traded as high as $114.87 and last traded at $113.71. Approximately 2,276,383 shares changed hands during trading, a decline of 73% from the average daily volume of 8,357,734 shares. The stock had previously closed at $110.03.

A number of other research analysts have also recently commented on the stock. Citigroup boosted their target price on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho upped their price objective on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group started coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Bank of America boosted their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI raised their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv has a consensus rating of “Buy” and a consensus target price of $122.11.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’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 transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

Large investors have recently bought and sold shares of the business. Independence Bank of Kentucky boosted its holdings in shares of Vertiv by 666.7% during the first quarter. Independence Bank of Kentucky now owns 1,150 shares of the company’s stock valued at $94,000 after acquiring an additional 1,000 shares during the period. Hodges Capital Management Inc. bought a new position in Vertiv in the 1st quarter worth about $255,000. Atticus Wealth Management LLC acquired a new stake in shares of Vertiv in the first quarter valued at approximately $27,000. Diversified Trust Co raised its holdings in shares of Vertiv by 76.6% during the first quarter. Diversified Trust Co now owns 8,145 shares of the company’s stock valued at $665,000 after buying an additional 3,532 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of Vertiv by 66.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock worth $41,000 after buying an additional 200 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

The business has a fifty day moving average of $93.57 and a 200-day moving average of $90.23. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The firm has a market capitalization of $42.08 billion, a P/E ratio of 87.63, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59.

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

Vertiv Announces Dividend

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

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.