Vertiv (NYSE:VRT) Stock Price Expected to Rise, TD Cowen Analyst Says

Vertiv (NYSE:VRTFree Report) had its price objective hoisted by TD Cowen from $115.00 to $141.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on VRT. Bank of America lifted their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Oppenheimer boosted their target price on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI boosted their target price on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv presently has a consensus rating of “Buy” and an average price target of $138.50.

Get Our Latest Research Report on VRT

Vertiv Stock Performance

NYSE:VRT opened at $140.94 on Tuesday. 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 $52.90 billion, a price-to-earnings ratio of 93.96, a PEG ratio of 1.31 and a beta of 1.58. The firm’s fifty day simple moving average is $107.65 and its 200 day simple moving average is $94.27. Vertiv has a twelve month low of $41.01 and a twelve month high of $141.12.

Vertiv (NYSE:VRTGet Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating 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 net margin of 7.72% and a return on equity of 55.33%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, equities research analysts expect that Vertiv will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently declared a quarterly 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 of this dividend is Tuesday, December 3rd. This is a positive change 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 payout ratio is 6.67%.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Clearbridge Investments LLC grew its position in Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after purchasing an additional 340,639 shares during the last quarter. Whittier Trust Co. grew its holdings in Vertiv by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after buying an additional 8,579 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Vertiv in the 3rd quarter valued at approximately $8,403,000. Assenagon Asset Management S.A. raised its stake in Vertiv by 190.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after acquiring an additional 36,684 shares in the last quarter. Finally, Entropy Technologies LP boosted its position in Vertiv by 42.4% during the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after acquiring an additional 9,479 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

About Vertiv

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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.

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Analyst Recommendations for Vertiv (NYSE:VRT)

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