Vertiv (NYSE:VRT) Shares Down 4.3% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price fell 4.3% on Tuesday . The stock traded as low as $106.40 and last traded at $107.54. 3,635,256 shares traded hands during trading, a decline of 56% from the average session volume of 8,342,762 shares. The stock had previously closed at $112.41.

Analysts Set New Price Targets

Several research firms have weighed in on VRT. Oppenheimer lifted their price objective on Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group began coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Bank of America lifted their price objective on Vertiv from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday. TD Cowen lifted their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv presently has a consensus rating of “Buy” and a consensus target price of $110.44.

Vertiv Stock Performance

The company has a market capitalization of $40.23 billion, a PE ratio of 103.31, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The business’s fifty day moving average is $86.97 and its two-hundred day moving average is $88.46. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

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

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

A number of hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB grew its position in shares of Vertiv by 23.2% during the 3rd quarter. Swedbank AB now owns 830,996 shares of the company’s stock valued at $82,676,000 after acquiring an additional 156,503 shares during the period. NBC Securities Inc. grew its position in shares of Vertiv by 0.9% during the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after acquiring an additional 112 shares during the period. Creative Planning grew its position in shares of Vertiv by 20.2% during the 3rd quarter. Creative Planning now owns 43,618 shares of the company’s stock valued at $4,340,000 after acquiring an additional 7,341 shares during the period. Novare Capital Management LLC grew its position in shares of Vertiv by 44.8% during the 3rd quarter. Novare Capital Management LLC now owns 3,555 shares of the company’s stock valued at $354,000 after acquiring an additional 1,100 shares during the period. Finally, ORG Partners LLC grew 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 valued at $46,000 after acquiring an additional 92 shares during the period. 89.92% of the stock is currently owned by hedge funds and other 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.