Vertiv (NYSE:VRT) Stock Price Up 3% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s stock price rose 3% during trading on Wednesday . The stock traded as high as $132.90 and last traded at $132.06. Approximately 1,900,895 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 8,144,378 shares. The stock had previously closed at $128.16.

Wall Street Analysts Forecast Growth

VRT has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Oppenheimer boosted their target price on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Citigroup boosted their target price on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Evercore ISI upped their price target 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 started coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Up 2.1 %

The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a market cap of $49.12 billion, a price-to-earnings ratio of 88.04, a P/E/G ratio of 1.31 and a beta of 1.61. The firm has a fifty day simple moving average of $116.11 and a 200-day simple moving average of $96.69.

Vertiv (NYSE:VRT) last posted 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 return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business earned $0.52 EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, sell-side analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the transaction, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertiv

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Anchor Investment Management LLC purchased a new stake in shares of Vertiv during the 2nd quarter valued at $26,000. Mather Group LLC. increased its position in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at $30,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.