Vertiv (NYSE:VRT) Trading 2.9% Higher – Here’s Why

Vertiv Holdings Co (NYSE:VRT)’s share price shot up 2.9% during mid-day trading on Thursday . The stock traded as high as $124.60 and last traded at $123.94. 2,616,177 shares were traded during mid-day trading, a decline of 68% from the average session volume of 8,221,738 shares. The stock had previously closed at $120.43.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VRT shares. Citigroup increased their price objective on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Evercore ISI boosted 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 target price on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group started coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv has an average rating of “Buy” and an average target price of $122.11.

Vertiv Trading Up 1.4 %

The business’s 50-day simple moving average is $98.93 and its 200-day simple moving average is $91.90. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The company has a market cap of $45.84 billion, a PE ratio of 81.15, a P/E/G ratio of 1.15 and a beta of 1.58.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Dividend Announcement

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. This represents a $0.10 annualized dividend and a yield of 0.08%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is presently 6.67%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GLOBALT Investments LLC GA grew its holdings in Vertiv by 3.0% during the third quarter. GLOBALT Investments LLC GA now owns 6,341 shares of the company’s stock valued at $631,000 after purchasing an additional 184 shares during the last quarter. Claro Advisors LLC grew its stake in Vertiv by 74.3% in the 3rd quarter. Claro Advisors LLC now owns 5,155 shares of the company’s stock valued at $513,000 after buying an additional 2,197 shares during the last quarter. Mount Lucas Management LP raised its holdings in Vertiv by 2.4% in the 3rd quarter. Mount Lucas Management LP now owns 9,411 shares of the company’s stock worth $936,000 after acquiring an additional 223 shares during the period. Natixis Advisors LLC raised its holdings in Vertiv by 59.2% in the 3rd quarter. Natixis Advisors LLC now owns 128,451 shares of the company’s stock worth $12,779,000 after acquiring an additional 47,748 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new position in Vertiv during the 3rd quarter worth $444,000. 89.92% of the stock is owned by 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.