Vertiv (NYSE:VRT) Stock Price Down 0.7% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) shares dropped 0.7% during mid-day trading on Wednesday . The company traded as low as $110.63 and last traded at $113.09. Approximately 1,242,322 shares changed hands during trading, a decline of 85% from the average daily volume of 8,305,047 shares. The stock had previously closed at $113.83.

Analysts Set New Price Targets

A number of brokerages have recently commented on VRT. The Goldman Sachs Group cut their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Mizuho boosted their price target on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup increased their price objective on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv has an average rating of “Buy” and an average price target of $122.11.

Vertiv Stock Down 0.7 %

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The firm has a market capitalization of $42.42 billion, a price-to-earnings ratio of 108.74, a PEG ratio of 1.47 and a beta of 1.59. The firm has a fifty day moving average price of $95.01 and a 200 day moving average price of $90.67.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. As a group, sell-side analysts expect that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC increased its holdings in Vertiv by 25.1% during the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP raised its position in shares of Vertiv by 18.6% during the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. lifted its stake in Vertiv by 0.9% in the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after buying an additional 112 shares in the last quarter. Nvwm LLC grew its holdings in Vertiv by 1.3% during the 3rd quarter. Nvwm LLC now owns 10,035 shares of the company’s stock valued at $998,000 after buying an additional 124 shares during the last quarter. Finally, Callan Family Office LLC increased its position in Vertiv by 0.9% during the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds 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.