Vertiv (NYSE:VRT) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Vertiv (NYSE:VRT) posted its earnings results on Wednesday. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10, Briefing.com reports. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. Vertiv’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share.

Vertiv Stock Down 2.7 %

Shares of VRT stock traded down $2.13 during trading hours on Thursday, hitting $76.46. 17,497,872 shares of the company’s stock traded hands, compared to its average volume of 8,633,591. The stock’s fifty day simple moving average is $92.71 and its two-hundred day simple moving average is $79.58. Vertiv has a 12-month low of $25.09 and a 12-month high of $109.27. The stock has a market cap of $28.62 billion, a price-to-earnings ratio of 74.69, a PEG ratio of 1.32 and a beta of 1.58. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. Vertiv’s payout ratio is 9.62%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup lifted their price objective on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Oppenheimer lifted their price objective on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Mizuho lifted their price objective on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. TD Cowen lifted their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Evercore ISI lifted their price objective on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Vertiv has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Activity

In other news, Director Doherty Philip O’ sold 9,529 shares of Vertiv stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the completion of the transaction, the director now directly owns 6,882,859 shares in the company, valued at $752,296,488.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Doherty Philip O’ sold 9,529 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the transaction, the director now directly owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anders Karlborg sold 46,206 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the transaction, the executive vice president now owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,162,739 shares of company stock worth $400,713,362. Insiders own 5.01% 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.