Vertiv (NYSE:VRT) Trading Down 0.8% – Here’s What Happened

Shares of Vertiv Holdings Co (NYSE:VRT) traded down 0.8% on Tuesday . The stock traded as low as $125.10 and last traded at $125.14. 1,164,118 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 8,130,502 shares. The stock had previously closed at $126.17.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Bank of America lifted their price objective on Vertiv from $130.00 to $140.00 and gave the company 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 for the company. Citigroup boosted their target price on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Monday. 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 report on Thursday, October 24th. Finally, Mizuho boosted their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and an average target price of $139.90.

Vertiv Price Performance

The firm has a market cap of $45.46 billion, a PE ratio of 83.43, a price-to-earnings-growth ratio of 1.38 and a beta of 1.61. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock has a 50 day moving average price of $118.63 and a two-hundred day moving average price of $97.58.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was up 19.0% on a year-over-year basis. As a group, equities analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current 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 paid a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s payout ratio is presently 6.67%.

Insider Activity at Vertiv

In other Vertiv news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the sale, the director now owns 3,425 shares in the company, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 completion of the sale, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock worth $23,105,682 over the last quarter. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently bought and sold shares of VRT. Anchor Investment Management LLC purchased a new stake in Vertiv in the 2nd quarter worth approximately $26,000. Krane Funds Advisors LLC acquired a new position in shares of Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC acquired a new position in shares of Vertiv during the 3rd quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC raised its stake 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 worth $30,000 after buying an additional 200 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Vertiv during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

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.