Vertiv (NYSE:VRT) Stock Price Down 4.5% – Here’s Why

Vertiv Holdings Co (NYSE:VRT)’s stock price traded down 4.5% during mid-day trading on Monday . The stock traded as low as $68.25 and last traded at $70.89. 4,399,288 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 8,731,393 shares. The stock had previously closed at $74.25.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VRT. Morgan Stanley started coverage on Vertiv in a research report on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective for the company. Barclays reduced their price objective on shares of Vertiv from $111.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada began coverage on shares of Vertiv in a research report on Friday, March 7th. They issued an “outperform” rating and a $121.00 price objective on the stock. Melius Research reiterated a “hold” rating and issued a $125.00 price target on shares of Vertiv in a research note on Tuesday, January 28th. Finally, Evercore ISI lowered their price target on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $135.33.

Vertiv Stock Performance

The firm has a market cap of $28.67 billion, a price-to-earnings ratio of 58.82, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average of $100.11 and a 200 day moving average of $111.51.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. As a group, analysts anticipate that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv’s dividend payout ratio is presently 11.72%.

Institutional Trading of Vertiv

Several institutional investors and hedge funds have recently modified their holdings of VRT. Neville Rodie & Shaw Inc. raised its stake in Vertiv by 33.2% during the first quarter. Neville Rodie & Shaw Inc. now owns 55,355 shares of the company’s stock worth $3,997,000 after acquiring an additional 13,800 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Vertiv by 30.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 768 shares of the company’s stock valued at $55,000 after purchasing an additional 180 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in Vertiv by 5.2% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 5,102 shares of the company’s stock valued at $580,000 after purchasing an additional 250 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Vertiv during the fourth quarter worth $12,982,000. Finally, Wealthedge Investment Advisors LLC acquired a new stake in shares of Vertiv during the 4th quarter valued at $639,000. 89.92% of the stock is currently owned by institutional investors.

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.