Vertiv (NYSE:VRT) Shares Up 2%

Vertiv Holdings Co (NYSE:VRT) shot up 2% during trading on Wednesday . The company traded as high as $97.24 and last traded at $96.78. 1,844,709 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 8,091,028 shares. The stock had previously closed at $94.91.

Analyst Upgrades and Downgrades

VRT has been the subject of several recent research reports. Bank of America increased their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Mizuho boosted their target price on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Citigroup increased their price target on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Evercore ISI boosted their price objective on shares of Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Oppenheimer lifted their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and an average target price of $81.11.

Vertiv Price Performance

The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98. The company’s 50 day moving average is $80.75 and its 200 day moving average is $60.37. The stock has a market cap of $36.57 billion, a price-to-earnings ratio of 93.50, a PEG ratio of 1.41 and a beta of 1.55.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm earned $0.24 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts forecast that Vertiv Holdings Co will post 2.42 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

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 $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Buying and Selling

In other news, Director Doherty Philip O’ sold 2,511,295 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $93.64, for a total value of $235,157,663.80. Following the sale, the director now directly owns 9,324,181 shares in the company, valued at $873,116,308.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, Director Doherty Philip O’ sold 2,511,295 shares of Vertiv stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the sale, the director now owns 9,324,181 shares of the company’s stock, valued at $873,116,308.84. The disclosure for this sale can be found here. Insiders have sold 3,409,664 shares of company stock worth $310,846,212 in the last three months. Corporate insiders own 5.62% of the company’s stock.

Institutional Trading of Vertiv

Several hedge funds and other institutional investors have recently bought and sold shares of VRT. First Horizon Advisors Inc. boosted its holdings in shares of Vertiv by 161.7% during the third quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock worth $25,000 after purchasing an additional 409 shares during the last quarter. Bogart Wealth LLC purchased a new position in Vertiv during the first quarter worth about $25,000. GAMMA Investing LLC acquired a new stake in Vertiv in the 4th quarter worth about $26,000. Raleigh Capital Management Inc. increased its stake in shares of Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after acquiring an additional 252 shares during the last quarter. Finally, Atticus Wealth Management LLC purchased a new position in shares of Vertiv during the 1st quarter worth about $27,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.