Vertiv (NYSE:VRT) Shares Down 2.6% – Here’s Why

Vertiv Holdings Co (NYSE:VRT)’s stock price traded down 2.6% during trading on Tuesday . The company traded as low as $123.33 and last traded at $123.49. 1,118,756 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 8,189,610 shares. The stock had previously closed at $126.80.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup upped their price target on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI upped their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho raised their price target on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Finally, TD Cowen boosted their target price on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $125.40.

Vertiv Trading Down 2.8 %

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 business has a fifty day simple moving average of $103.47 and a 200 day simple moving average of $93.30. The company has a market cap of $45.44 billion, a P/E ratio of 81.31, a P/E/G ratio of 1.34 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (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 analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.08%. Vertiv’s dividend payout ratio is presently 6.67%.

Insider Activity at Vertiv

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

Hedge Funds Weigh In On Vertiv

A number of large investors have recently made changes to their positions in VRT. Vanguard Group Inc. grew its holdings in shares of Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after buying an additional 1,766,784 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the last quarter. Jennison Associates LLC boosted its position in Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after acquiring an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv during the second quarter valued at approximately $331,091,000. Finally, Westfield Capital Management Co. LP lifted its position in Vertiv by 1.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after purchasing an additional 40,696 shares during the period. Institutional investors 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.