Vertiv Holdings Co (NYSE:VRT) to Issue Dividend Increase – $0.04 Per Share

Vertiv Holdings Co (NYSE:VRT) declared a quarterly dividend on Monday, November 18th,RTT News reports. Shareholders of record on Tuesday, December 3rd will be given a dividend of 0.0375 per share on Thursday, December 19th. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03.

Vertiv has increased its dividend by an average of 35.7% per year over the last three years. Vertiv has a dividend payout ratio of 2.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Vertiv to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 2.9%.

Vertiv Trading Down 0.1 %

Vertiv stock opened at $120.87 on Monday. Vertiv has a 52 week low of $41.01 and a 52 week high of $130.30. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a market capitalization of $45.37 billion, a PE ratio of 80.58, a PEG ratio of 1.31 and a beta of 1.58. The business’s 50-day simple moving average is $105.37 and its 200-day simple moving average is $93.71.

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

Analyst Upgrades and Downgrades

VRT has been the topic of several research reports. Citigroup boosted 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, October 24th. TD Cowen boosted their price target on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group began coverage on Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Evercore ISI boosted their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Bank of America upped their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $125.40.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.01% of the company’s stock.

Vertiv Company Profile

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.