Vertiv (NYSE:VRT) Shares Up 3.1% – Here’s Why

Vertiv Holdings Co (NYSE:VRT)’s stock price rose 3.1% during mid-day trading on Thursday . The stock traded as high as $119.74 and last traded at $113.89. Approximately 5,447,874 shares changed hands during trading, a decline of 46% from the average daily volume of 10,132,764 shares. The stock had previously closed at $110.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America increased their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Mizuho lifted their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Citigroup increased their price objective on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group raised their price objective on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vertiv has an average rating of “Moderate Buy” and an average price target of $139.36.

Vertiv Stock Performance

The firm has a fifty day moving average price of $126.63 and a 200 day moving average price of $105.75. 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 stock has a market cap of $43.02 billion, a PE ratio of 76.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.63.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were paid a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insiders Place Their Bets

In other news, Director Jakki L. Haussler sold 15,347 shares of the company’s 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 of the company’s stock, valued at $470,526.50. This represents a 81.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,527 shares of company stock valued at $23,105,682. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. acquired a new stake in Vertiv during the fourth quarter worth about $26,000. OLD Second National Bank of Aurora purchased a new position in shares of Vertiv during the 4th quarter valued at approximately $30,000. Krane Funds Advisors LLC acquired a new position in shares of Vertiv in the 3rd quarter valued at $29,000. Anchor Investment Management LLC purchased a new stake in Vertiv during the second quarter worth $26,000. Finally, Global Trust Asset Management LLC purchased a new position in Vertiv in the third quarter valued at $30,000. 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.