Vertiv (NYSE:VRT) Hits New 52-Week High at $94.39

Vertiv Holdings Co (NYSE:VRT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $94.39 and last traded at $90.88, with a volume of 8073047 shares changing hands. The stock had previously closed at $79.17.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Vertiv from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Citigroup raised their price objective on Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Bank of America increased their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Oppenheimer started coverage on Vertiv in a research note on Friday, April 5th. They set an “outperform” rating and a $96.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Vertiv from $65.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.56.

Vertiv Stock Performance

The company has a 50 day moving average price of $74.96 and a 200-day moving average price of $56.68. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The company has a market cap of $32.80 billion, a P/E ratio of 71.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $0.28 EPS. Vertiv’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Vertiv Holdings Co will post 2.36 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is currently 8.47%.

Insiders Place Their Bets

In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by insiders.

Institutional Trading of Vertiv

Several hedge funds have recently made changes to their positions in VRT. FMR LLC grew its holdings in shares of Vertiv by 182.4% during the third quarter. FMR LLC now owns 47,236,496 shares of the company’s stock worth $1,757,198,000 after buying an additional 30,511,907 shares during the last quarter. Norges Bank purchased a new position in Vertiv in the 4th quarter worth approximately $185,339,000. Vanguard Group Inc. boosted its stake in shares of Vertiv by 12.1% during the 3rd quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock valued at $1,176,590,000 after buying an additional 3,417,710 shares during the last quarter. Coatue Management LLC increased its holdings in shares of Vertiv by 19.5% in the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after acquiring an additional 2,249,353 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Vertiv by 1,032.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company’s stock worth $84,031,000 after purchasing an additional 2,059,431 shares during the last quarter. Institutional investors and hedge funds own 89.92% 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.