Vertiv (NYSE:VRT) Stock Price Down 2.8% – What’s Next?

Shares of Vertiv Holdings Co (NYSE:VRT) traded down 2.8% during trading on Tuesday . The company traded as low as $126.01 and last traded at $130.28. 3,188,889 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 6,168,695 shares. The stock had previously closed at $134.08.

Wall Street Analyst Weigh In

VRT has been the topic of a number of research reports. Evercore ISI increased their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Fox Advisors started coverage on Vertiv in a research note on Monday. They issued an “equal weight” rating on the stock. Barclays assumed coverage on shares of Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.92.

Vertiv Price Performance

The business has a 50-day simple moving average of $123.90 and a two-hundred day simple moving average of $101.54. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $48.55 billion, a price-to-earnings ratio of 86.23, a P/E/G ratio of 1.29 and a beta of 1.63.

Vertiv (NYSE:VRT) last released 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 firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.52 earnings per share. Vertiv’s revenue was up 19.0% compared to the same quarter last year. As a group, research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Buying and Selling at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,527 shares of company stock valued at $23,105,682. Corporate insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

A number of hedge funds have recently modified their holdings of VRT. Principal Financial Group Inc. lifted its stake in Vertiv by 6.1% in the 2nd quarter. Principal Financial Group Inc. now owns 31,208 shares of the company’s stock worth $2,702,000 after acquiring an additional 1,789 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Vertiv by 2.2% in the second quarter. TD Asset Management Inc now owns 57,812 shares of the company’s stock worth $5,005,000 after purchasing an additional 1,222 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Vertiv by 24.1% during the second quarter. Private Advisor Group LLC now owns 36,866 shares of the company’s stock worth $3,191,000 after purchasing an additional 7,163 shares during the period. Acadian Asset Management LLC grew its position in Vertiv by 166.5% during the second quarter. Acadian Asset Management LLC now owns 10,677 shares of the company’s stock valued at $922,000 after purchasing an additional 6,670 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co acquired a new position in Vertiv in the 2nd quarter valued at approximately $3,030,000. Hedge funds and other institutional investors own 89.92% 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.