Vertiv (NYSE:VRT) Shares Gap Down to $104.60

Vertiv Holdings Co (NYSE:VRT) gapped down before the market opened on Thursday . The stock had previously closed at $104.60, but opened at $102.47. Vertiv shares last traded at $100.94, with a volume of 2,944,042 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Friday. Mizuho upped their price objective on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Evercore ISI boosted their price target on shares of Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Oppenheimer raised their price objective on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv presently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Vertiv Price Performance

The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98. The firm has a market capitalization of $36.24 billion, a PE ratio of 93.09, a P/E/G ratio of 1.47 and a beta of 1.55. The business’s 50 day moving average is $85.23 and its two-hundred day moving average is $63.42.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.42 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is currently 9.62%.

Insiders Place Their Bets

In other news, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction dated Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the sale, the insider now owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Vertiv news, insider Yibin Edward Cui sold 668 shares of the stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the sale, the insider now owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Insiders sold 3,426,331 shares of company stock valued at $312,577,246 over the last three months. Insiders own 5.62% of the company’s stock.

Hedge Funds Weigh In On Vertiv

A number of hedge funds and other institutional investors have recently made changes to their positions in VRT. Bogart Wealth LLC purchased a new stake in shares of Vertiv in the 1st quarter worth about $25,000. Atticus Wealth Management LLC purchased a new stake in Vertiv in the first quarter worth about $27,000. Hazlett Burt & Watson Inc. purchased a new stake in Vertiv in the first quarter worth about $34,000. RiverPark Advisors LLC bought a new stake in Vertiv during the 1st quarter valued at approximately $35,000. Finally, ORG Partners LLC purchased a new position in shares of Vertiv during the 1st quarter worth approximately $37,000. 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.