Vertiv (NYSE:VRT) Stock Price Down 2.4% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) shares were down 2.4% on Thursday . The company traded as low as $107.94 and last traded at $109.71. 1,694,604 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 8,284,558 shares. The stock had previously closed at $112.45.

Analysts Set New Price Targets

A number of research firms have recently commented on VRT. TD Cowen upped their price objective on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America upped their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Oppenheimer raised their price objective on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group decreased their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Evercore ISI raised their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $122.11.

Vertiv Stock Performance

The firm has a market cap of $40.88 billion, a price-to-earnings ratio of 105.49, a PEG ratio of 1.47 and a beta of 1.59. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a 50 day moving average of $95.70 and a 200 day moving average of $90.82.

Vertiv (NYSE:VRT) last posted 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 the consensus estimate of $1.98 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. Vertiv’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. As a group, equities research analysts expect that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

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

Insider Transactions at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

A number of institutional investors have recently modified their holdings of VRT. Vanguard Group Inc. boosted its stake in Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after acquiring an additional 1,766,784 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after acquiring an additional 3,591,903 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Vertiv in the 2nd quarter valued at about $331,091,000. Westfield Capital Management Co. LP boosted its stake in Vertiv by 85.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares during the period. Finally, Janus Henderson Group PLC grew its position in Vertiv by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after purchasing an additional 451,830 shares during the last quarter. 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.