Vertiv (NYSE:VRT) Price Target Raised to $98.00 at Oppenheimer

Vertiv (NYSE:VRT) had its price objective raised by Oppenheimer from $96.00 to $98.00 in a report issued on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

VRT has been the topic of several other research reports. Bank of America boosted their price objective on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research report on Monday, March 18th. Evercore ISI boosted their price objective on Vertiv from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, April 5th. Citigroup boosted their price objective on Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a research report on Monday, April 8th. Mizuho boosted their price objective on Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $81.11.

Vertiv Trading Up 3.5 %

Shares of Vertiv stock opened at $93.49 on Thursday. The stock has a fifty day simple moving average of $76.51 and a 200 day simple moving average of $57.70. Vertiv has a 12-month low of $13.73 and a 12-month high of $95.32. The company has a market capitalization of $35.71 billion, a P/E ratio of 89.89, a price-to-earnings-growth ratio of 1.49 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. Vertiv’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Vertiv will post 2.38 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio is presently 9.62%.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 5.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

Institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB bought a new position in Vertiv in the 4th quarter worth about $1,040,000. Xponance Inc. increased its stake in Vertiv by 2.9% in the 4th quarter. Xponance Inc. now owns 14,984 shares of the company’s stock worth $720,000 after acquiring an additional 426 shares during the last quarter. WT Asset Management Ltd bought a new position in Vertiv in the 4th quarter worth about $24,486,000. CenterBook Partners LP increased its stake in Vertiv by 82.0% in the 3rd quarter. CenterBook Partners LP now owns 174,938 shares of the company’s stock worth $6,508,000 after acquiring an additional 78,793 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in Vertiv by 791.6% in the 3rd quarter. Quadrature Capital Ltd now owns 92,628 shares of the company’s stock worth $3,445,000 after acquiring an additional 82,239 shares during the last quarter. 89.92% of the stock is currently 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.