Vertiv (NYSE:VRT) Trading Up 2.8% Following Dividend Announcement

Vertiv Holdings Co (NYSE:VRT)’s share price was up 2.8% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $125.84 and last traded at $124.24. Approximately 1,534,066 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 8,142,675 shares. The stock had previously closed at $120.87.

The newly announced dividend which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost 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 dividend payout ratio (DPR) is currently 6.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VRT shares. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. increased their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday. Mizuho boosted their price target on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday. Evercore ISI increased their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, 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 report on Tuesday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Stock Performance

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 $52.90 billion, a P/E ratio of 93.96, a P/E/G ratio of 1.31 and a beta of 1.58. The company’s 50 day moving average is $107.65 and its 200 day moving average is $94.27.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating 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 company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company earned $0.52 EPS. Vertiv’s revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VRT. Old West Investment Management LLC increased its stake in shares of Vertiv by 44.1% in the third quarter. Old West Investment Management LLC now owns 28,372 shares of the company’s stock valued at $2,823,000 after buying an additional 8,683 shares during the period. TCW Group Inc. boosted its holdings in Vertiv by 9.5% in the third quarter. TCW Group Inc. now owns 498,387 shares of the company’s stock valued at $49,585,000 after acquiring an additional 43,148 shares during the last quarter. Virtue Capital Management LLC increased its position in Vertiv by 1.2% during the 3rd quarter. Virtue Capital Management LLC now owns 15,061 shares of the company’s stock valued at $1,498,000 after purchasing an additional 177 shares during the period. Toronto Dominion Bank lifted its position in shares of Vertiv by 26.6% in the 3rd quarter. Toronto Dominion Bank now owns 43,521 shares of the company’s stock worth $4,330,000 after purchasing an additional 9,150 shares during the period. Finally, TT International Asset Management LTD boosted its stake in shares of Vertiv by 746.5% in the 3rd quarter. TT International Asset Management LTD now owns 50,098 shares of the company’s stock valued at $4,984,000 after purchasing an additional 44,180 shares during the last quarter. 89.92% of the stock is owned by 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.