Vertiv (NYSE:VRT) Price Target Raised to $131.00

Vertiv (NYSE:VRT) had its price target hoisted by Oppenheimer from $121.00 to $131.00 in a research report released on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

VRT has been the subject of several other reports. Mizuho boosted their price objective on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI increased their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Citigroup raised their price objective on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group assumed coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Finally, TD Cowen lifted their price target on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and a consensus price target of $138.50.

Vertiv Trading Up 3.1 %

Shares of NYSE:VRT opened at $141.75 on Tuesday. Vertiv has a 12-month low of $41.01 and a 12-month high of $145.67. The business’s fifty day simple moving average is $109.85 and its 200-day simple moving average is $94.90. The company has a market capitalization of $53.20 billion, a PE ratio of 94.50, a P/E/G ratio of 1.53 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping 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 company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. As a group, equities research analysts predict that Vertiv will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Insider Buying and Selling 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 sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.01% of the stock is currently owned by company insiders.

Institutional Trading of Vertiv

A number of institutional investors have recently made changes to their positions in the stock. Old West Investment Management LLC lifted its stake in shares of Vertiv by 44.1% in the 3rd quarter. Old West Investment Management LLC now owns 28,372 shares of the company’s stock worth $2,823,000 after acquiring an additional 8,683 shares during the period. TCW Group Inc. lifted its stake in Vertiv by 9.5% during the third quarter. TCW Group Inc. now owns 498,387 shares of the company’s stock valued at $49,585,000 after purchasing an additional 43,148 shares during the last quarter. Virtue Capital Management LLC lifted its stake in Vertiv by 1.2% during the third quarter. Virtue Capital Management LLC now owns 15,061 shares of the company’s stock valued at $1,498,000 after purchasing an additional 177 shares during the last quarter. Toronto Dominion Bank lifted its stake in Vertiv by 26.6% during the third quarter. Toronto Dominion Bank now owns 43,521 shares of the company’s stock valued at $4,330,000 after purchasing an additional 9,150 shares during the last quarter. Finally, TT International Asset Management LTD lifted its stake in Vertiv by 746.5% during the third quarter. TT International Asset Management LTD now owns 50,098 shares of the company’s stock valued at $4,984,000 after purchasing an additional 44,180 shares during the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

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.