Vertiv (NYSE:VRT) Trading Up 0.7% After Earnings Beat

Shares of Vertiv Holdings Co (NYSE:VRT) were up 0.7% during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $115.00 and last traded at $113.26. Approximately 7,723,320 shares were traded during trading, a decline of 7% from the average daily volume of 8,334,112 shares. The stock had previously closed at $112.47.

The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Analyst Ratings Changes

A number of equities analysts have weighed in on VRT shares. Evercore ISI upped their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho increased their target price on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Cowen increased their price target on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer raised their target price on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group decreased their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $122.11.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

A number of hedge funds have recently modified their holdings of the business. ORG Partners LLC increased its position in shares of Vertiv by 25.1% during the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Vertiv by 18.6% during the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after buying an additional 100 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Vertiv by 0.9% during the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock worth $1,305,000 after buying an additional 112 shares in the last quarter. Callan Family Office LLC increased its holdings in Vertiv by 0.9% in the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock valued at $1,491,000 after purchasing an additional 137 shares during the period. Finally, Optimum Investment Advisors increased its holdings in Vertiv by 11.1% in the third quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock valued at $149,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Price Performance

The company has a market capitalization of $41.99 billion, a price-to-earnings ratio of 109.34, a P/E/G ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The business has a 50 day moving average price of $92.92 and a 200-day moving average price of $89.97.

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.