Vertiv (NYSE:VRT) Shares Down 2%

Vertiv Holdings Co (NYSE:VRT) dropped 2% during mid-day trading on Monday . The company traded as low as $73.49 and last traded at $73.51. Approximately 4,279,871 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 7,539,686 shares. The stock had previously closed at $75.01.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Mizuho lifted 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 lifted their price objective on shares of Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Evercore ISI lifted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $65.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.56.

Vertiv Stock Performance

The firm has a market capitalization of $30.23 billion, a PE ratio of 67.08, a P/E/G ratio of 1.21 and a beta of 1.59. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The company’s fifty day simple moving average is $74.96 and its 200 day simple moving average is $56.68.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 EPS 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 business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts expect that Vertiv Holdings Co will post 2.36 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is presently 8.47%.

Insider Activity

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction that occurred 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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. Company insiders own 5.62% of the company’s stock.

Institutional Trading of Vertiv

A number of institutional investors have recently made changes to their positions in VRT. CWM LLC boosted its stake in shares of Vertiv by 90.5% during the third quarter. CWM LLC now owns 4,231 shares of the company’s stock valued at $157,000 after purchasing an additional 2,010 shares during the period. Global Retirement Partners LLC lifted its stake in Vertiv by 30.0% in the third quarter. Global Retirement Partners LLC now owns 1,588 shares of the company’s stock worth $61,000 after acquiring an additional 366 shares during the period. SG Americas Securities LLC purchased a new stake in Vertiv in the third quarter worth $3,184,000. Avior Wealth Management LLC bought a new position in Vertiv in the third quarter worth $331,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Vertiv by 1.5% during the third quarter. Exchange Traded Concepts LLC now owns 121,592 shares of the company’s stock valued at $4,523,000 after acquiring an additional 1,752 shares in the last quarter. Hedge funds and other institutional investors 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.