Vertiv (NYSE:VRT) Stock Price Up 9.7% – Here’s Why

Vertiv Holdings Co. (NYSE:VRT)’s share price rose 9.7% during mid-day trading on Monday. The company traded as high as $203.30 and last traded at $200.6160. 7,518,726 shares traded hands during trading, an increase of 14% from the average daily volume of 6,578,787 shares. The stock had previously closed at $182.86.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on VRT shares. Weiss Ratings cut shares of Vertiv from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. Loop Capital dropped their price target on shares of Vertiv from $500.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Bank of America dropped their price target on shares of Vertiv from $440.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Zacks Research upgraded shares of Vertiv from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Finally, Piper Sandler set a $375.00 price objective on shares of Vertiv in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Vertiv presently has an average rating of “Moderate Buy” and an average target price of $337.78.

Vertiv Trading Up 9.7%

The business’s 50 day moving average price is $236.97 and its 200-day moving average price is $269.74. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.53. The company has a market cap of $77.25 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 0.58 and a beta of 2.11.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.39. Vertiv had a net margin of 15.99% and a return on equity of 53.31%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted $1.24 earnings per share. The business’s revenue for the quarter was up 61.2% compared to the same quarter last year. On average, equities analysts anticipate that Vertiv Holdings Co. will post 7.17 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Monday, September 14th were paid a dividend of $0.0625 per share. The ex-dividend date was Monday, September 14th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.1%. Vertiv’s dividend payout ratio (DPR) is 4.67%.

Insiders Place Their Bets

In related news, Director Edward Monser sold 15,287 shares of Vertiv stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $253.82, for a total transaction of $3,880,146.34. Following the completion of the sale, the director directly owned 16,500 shares of the company’s stock, valued at approximately $4,188,030. This trade represents a 48.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRT. Perpetual Ltd raised its stake in Vertiv by 6,110.5% during the 3rd quarter. Perpetual Ltd now owns 114,397 shares of the company’s stock worth $27,605,000 after buying an additional 112,555 shares during the period. NFSG Corp grew its stake in Vertiv by 325.4% in the third quarter. NFSG Corp now owns 8,984 shares of the company’s stock valued at $2,168,000 after acquiring an additional 6,872 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Vertiv by 536.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,358 shares of the company’s stock valued at $19,134,000 after acquiring an additional 64,358 shares during the period. N10 Wealth LLC grew its stake in Vertiv by 34.2% in the third quarter. N10 Wealth LLC now owns 80,798 shares of the company’s stock valued at $19,497,000 after acquiring an additional 20,604 shares during the period. Finally, LDR Capital Management LLC increased its holdings in shares of Vertiv by 111.5% during the third quarter. LDR Capital Management LLC now owns 13,749 shares of the company’s stock valued at $3,318,000 after acquiring an additional 7,248 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Company Profile

Vertiv Holdings Co (NYSE: VRT) designs, manufactures and services critical digital infrastructure used by data centers, communications networks and commercial and industrial facilities. Its offerings help customers maintain reliable power, cooling and operating conditions for technology systems.

The company’s products and solutions include uninterruptible power supplies, power distribution equipment, thermal management systems, racks, integrated modular infrastructure, and monitoring and control software.