Vertiv (NYSE:VRT) Stock Price Up 4.1% – What’s Next?

Vertiv Holdings Co (NYSE:VRT) rose 4.1% on Thursday . The stock traded as high as $144.00 and last traded at $143.18. Approximately 3,597,217 shares were traded during trading, a decline of 56% from the average daily volume of 8,189,921 shares. The stock had previously closed at $137.54.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America boosted their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI boosted 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. TD Cowen boosted their price target on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup lifted their price objective on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $138.50.

Vertiv Stock Performance

The firm has a market cap of $52.60 billion, a price-to-earnings ratio of 93.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.58. 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 firm’s 50 day moving average is $110.94 and its 200-day moving average is $95.19.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Sell-side analysts anticipate that Vertiv Holdings Co 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 given a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. Vertiv’s payout ratio is currently 6.67%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated 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. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,185 shares of company stock valued at $10,074,936 in the last quarter. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Vertiv by 4.2% in the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after acquiring an additional 308,704 shares during the period. Geode Capital Management LLC increased its stake in Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after acquiring an additional 408,054 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after acquiring an additional 3,591,903 shares during the period. Jennison Associates LLC increased its stake in Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after acquiring an additional 4,558,306 shares during the period. Finally, Wellington Management Group LLP increased its stake in Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares during the period. 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.