Vertiv Holdings Co Announces Quarterly Dividend of $0.03 (NYSE:VRT)

Vertiv Holdings Co (NYSE:VRT) announced a quarterly dividend on Wednesday, September 4th, Wall Street Journal reports. Investors of record on Tuesday, September 17th will be given a dividend of 0.025 per share on Thursday, September 26th. This represents a $0.10 annualized dividend and a yield of 0.12%. The ex-dividend date is Tuesday, September 17th.

Vertiv has raised its dividend by an average of 35.7% per year over the last three years. Vertiv has a dividend payout ratio of 3.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Vertiv to earn $3.31 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 3.0%.

Vertiv Stock Performance

VRT opened at $85.76 on Monday. The business has a fifty day simple moving average of $79.75 and a 200 day simple moving average of $84.77. The company has a market capitalization of $32.10 billion, a PE ratio of 82.46, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. Vertiv has a 1 year low of $34.60 and a 1 year high of $109.27.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. Research analysts expect that Vertiv will post 2.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VRT. Evercore ISI reiterated an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and cut their target price for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group dropped their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $102.13.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the company’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 in the company, valued at approximately $843,254.58. The sale was disclosed in a filing with the SEC, which is available through this link. 5.01% of the stock is owned by corporate insiders.

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.