Vertiv Holdings Co (NYSE:VRT) to Issue Quarterly Dividend of $0.04

Vertiv Holdings Co (NYSE:VRT) announced a quarterly dividend on Monday, November 18th,RTT News reports. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.0375 per share on Thursday, December 19th. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03.

Vertiv has increased its dividend payment by an average of 35.7% annually over the last three years. Vertiv has a payout ratio of 4.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vertiv to earn $3.58 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 4.2%.

Vertiv Stock Performance

Shares of VRT opened at $127.60 on Monday. Vertiv has a 1 year low of $42.50 and a 1 year high of $145.67. The stock has a market capitalization of $47.89 billion, a P/E ratio of 85.07, a P/E/G ratio of 1.31 and a beta of 1.58. 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 company’s fifty day moving average is $114.87 and its two-hundred day moving average is $96.26.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.52 earnings per share. On average, sell-side analysts predict that Vertiv will post 2.69 earnings per share for the current year.

Insider Buying and Selling at Vertiv

In other news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the sale, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,451 shares of company stock valued at $26,699,153 over the last quarter. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group assumed coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Evercore ISI upped their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. TD Cowen upped their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer lifted their price target on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $138.50.

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.