Vertiv (NYSE:VRT) Issues Quarterly Earnings Results

Vertiv (NYSE:VRT) released its quarterly earnings data on Wednesday. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07, Briefing.com reports. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share.

Vertiv Price Performance

NYSE VRT traded up $1.05 on Thursday, reaching $109.41. The company had a trading volume of 3,889,132 shares, compared to its average volume of 8,365,608. The firm’s 50 day moving average price is $92.37 and its 200 day moving average price is $89.83. Vertiv has a 12 month low of $34.60 and a 12 month high of $116.41. The stock has a market capitalization of $40.96 billion, a PE ratio of 105.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a $0.025 dividend. 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%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Citigroup upped their price objective on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho lifted their target price on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer raised their price objective on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Bank of America increased their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $119.67.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on 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 sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.01% 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.