Vertiv (NYSE:VRT) Price Target Raised to $140.00 at The Goldman Sachs Group

Vertiv (NYSE:VRT) had its price objective boosted by The Goldman Sachs Group from $126.00 to $140.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. TD Cowen lifted their price objective on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday. Bank of America boosted 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. Finally, UBS Group initiated coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $138.50.

Vertiv Trading Up 14.6 %

NYSE VRT opened at $140.94 on Tuesday. The company 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 stock’s 50-day simple moving average is $107.65 and its two-hundred day simple moving average is $94.27. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv has a twelve month low of $41.01 and a twelve month high of $141.12.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate 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 business earned $0.52 earnings per share. Research analysts forecast that Vertiv will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

A number of hedge funds have recently made changes to their positions in VRT. Jennison Associates LLC boosted its position in shares of Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv in the 2nd quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD boosted its position in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after purchasing an additional 3,591,903 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Finally, Castle Hook Partners LP boosted its position in shares of Vertiv by 215.6% in the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after purchasing an additional 1,273,746 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

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.