Vertiv (NYSE:VRT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Vertiv (NYSE:VRT) had its target price lifted by JPMorgan Chase & Co. from $124.00 to $132.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently commented on the stock. UBS Group began coverage on shares of Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price for the company. The Goldman Sachs Group cut their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Mizuho increased their price objective on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, TD Cowen lifted their target price on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Stock Performance

Shares of VRT opened at $141.75 on Tuesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The firm’s 50 day moving average is $109.85 and its 200-day moving average is $94.90. Vertiv has a 12-month low of $41.01 and a 12-month high of $145.67. The stock has a market capitalization of $53.20 billion, a P/E ratio of 94.50, a P/E/G ratio of 1.53 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm posted $0.52 EPS. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Equities research analysts anticipate that Vertiv will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of Vertiv 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 directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Vertiv by 4.2% during the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after buying an additional 308,704 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Vertiv by 7.4% during the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after purchasing an additional 408,054 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares during the last quarter. Jennison Associates LLC increased its position in Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after buying an additional 2,860,181 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.