Vertiv (NYSE:VRT) Posts Earnings Results, Beats Estimates By $0.06 EPS

Vertiv (NYSE:VRT) posted its quarterly earnings data on Wednesday. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06, Briefing.com reports. Vertiv had a return on equity of 39.46% and a net margin of 6.71%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the business earned $0.24 earnings per share. Vertiv’s revenue for the quarter was up 7.8% compared to the same quarter last year.

Vertiv Trading Up 7.1 %

Shares of NYSE VRT traded up $6.02 during midday trading on Thursday, reaching $90.59. 10,995,154 shares of the stock were exchanged, compared to its average volume of 7,927,962. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. Vertiv has a 12 month low of $13.06 and a 12 month high of $94.39. The business has a 50-day simple moving average of $75.35 and a two-hundred day simple moving average of $56.87. The company has a market capitalization of $34.60 billion, a price-to-earnings ratio of 75.42, a P/E/G ratio of 1.26 and a beta of 1.59.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio is currently 8.47%.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRT. JPMorgan Chase & Co. boosted their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho lifted their price objective on Vertiv from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Evercore ISI increased their target price on shares of Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer boosted their price objective on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Bank of America lifted their price target on Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.89.

Insiders Place Their Bets

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. Corporate insiders own 5.62% 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.