Vertiv (NYSE:VRT) Posts Earnings Results

Vertiv (NYSE:VRT) announced its earnings results on Wednesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10, Briefing.com reports. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $0.46 EPS. Vertiv’s quarterly revenue was up 12.6% on a year-over-year basis.

Vertiv Stock Performance

Shares of NYSE:VRT traded down $2.13 on Thursday, hitting $76.46. The company’s stock had a trading volume of 17,497,872 shares, compared to its average volume of 8,633,591. Vertiv has a 12 month low of $25.09 and a 12 month high of $109.27. The company has a market capitalization of $28.62 billion, a price-to-earnings ratio of 74.69, a price-to-earnings-growth ratio of 1.32 and a beta of 1.58. The stock’s 50-day moving average is $92.71 and its two-hundred day moving average is $79.58. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were paid a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. Vertiv’s payout ratio is 9.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VRT shares. Mizuho boosted their price target on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Citigroup boosted their price target on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Bank of America boosted their price target on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Evercore ISI upped their price objective on Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Transactions at Vertiv

In other news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the transaction, the director now owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Anders Karlborg sold 46,206 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total value of $4,331,812.50. Following the completion of the sale, the executive vice president now owns 23,003 shares in the company, valued at $2,156,531.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,162,739 shares of company stock valued at $400,713,362. 5.01% of the stock is currently owned by corporate insiders.

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.