Vertiv (NYSE:VRT) Trading 0.3% Higher Following Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT) shares shot up 0.3% on Monday after Evercore ISI raised their price target on the stock from $105.00 to $125.00. Evercore ISI currently has an outperform rating on the stock. Vertiv traded as high as $106.50 and last traded at $105.56. 2,117,413 shares traded hands during trading, a decline of 75% from the average session volume of 8,424,275 shares. The stock had previously closed at $105.20.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group lowered their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group started coverage on shares of Vertiv in a research report on Monday. They issued a “buy” rating and a $125.00 price objective on the stock. TD Cowen boosted their target price on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $106.89.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on 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 directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares in the last quarter. Coatue Management LLC boosted its stake in Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after acquiring an additional 2,249,353 shares during the last quarter. 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 purchasing an additional 3,591,903 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv during the second quarter worth $331,091,000. Finally, Westfield Capital Management Co. LP raised its stake in Vertiv by 85.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after buying an additional 1,563,466 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Trading Up 0.1 %

The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The stock has a market capitalization of $39.99 billion, a price-to-earnings ratio of 102.71, a PEG ratio of 1.26 and a beta of 1.59. The business has a 50 day simple moving average of $83.31 and a 200-day simple moving average of $87.50.

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

Vertiv Announces Dividend

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

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.