Vertiv (NYSE:VRT) Sets New 1-Year High Following Dividend Announcement

Vertiv Holdings Co (NYSE:VRT)’s share price reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $131.33 and last traded at $131.12, with a volume of 2929031 shares trading hands. The stock had previously closed at $123.02.

The newly announced dividend which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Wall Street Analysts Forecast Growth

VRT has been the subject of several research reports. Bank of America raised their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI increased their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen boosted their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Up 14.6 %

The company has a market capitalization of $52.90 billion, a P/E ratio of 93.96, a P/E/G ratio of 1.31 and a beta of 1.58. The business’s fifty day moving average price is $107.65 and its 200 day moving average price is $94.27. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

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

Insider Transactions at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Vertiv

A number of hedge funds have recently modified their holdings of the company. Anchor Investment Management LLC acquired a new stake in Vertiv in the second quarter worth $26,000. Mather Group LLC. lifted its holdings in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Vertiv in the third quarter valued at about $29,000. Global Trust Asset Management LLC bought a new stake in shares of Vertiv in the third quarter worth about $30,000. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of Vertiv by 200.0% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. 89.92% of the stock is currently 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.