Vertiv (NYSE:VRT) Stock Price Down 2.9%

Shares of Vertiv Holdings Co (NYSE:VRT) were down 2.9% on Friday . The stock traded as low as $72.39 and last traded at $72.98. Approximately 2,051,502 shares changed hands during trading, a decline of 76% from the average daily volume of 8,564,509 shares. The stock had previously closed at $75.15.

Analyst Ratings Changes

A number of brokerages have commented on VRT. The Goldman Sachs Group lowered their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. TD Cowen lifted their price target on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI reaffirmed an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research report on Thursday, August 15th. Finally, Bank of America boosted their price objective on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus price target of $96.22.

Vertiv Stock Down 4.1 %

The company has a market cap of $26.98 billion, a price-to-earnings ratio of 70.17, a PEG ratio of 1.08 and a beta of 1.58. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The business has a fifty day moving average of $81.01 and a two-hundred day moving average of $83.81.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $0.46 EPS. Vertiv’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.14%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Activity

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 stock was 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 in the company, valued at $843,254.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC purchased a new position in shares of Vertiv during the 1st quarter worth approximately $25,000. Raleigh Capital Management Inc. grew its stake in shares of Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after buying an additional 252 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of Vertiv in the 1st quarter valued at $27,000. Mather Group LLC. lifted its stake in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new position in Vertiv during the 1st quarter valued at about $34,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.