Vertiv (NYSE:VRT) Price Target Increased to $130.00 by Analysts at Bank of America

Vertiv (NYSE:VRT) had its price objective hoisted by Bank of America from $115.00 to $130.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also issued reports on VRT. The Goldman Sachs Group dropped their target price on Vertiv from $116.00 to $104.00 and set a buy rating on the stock in a report on Thursday, July 25th. Evercore ISI upped their price objective on shares of Vertiv from $105.00 to $125.00 and gave the stock an outperform rating in a research report on Monday, October 7th. Oppenheimer lifted their target price on shares of Vertiv from $100.00 to $115.00 and gave the company an outperform rating in a report on Monday. TD Cowen increased their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a buy rating in a report on Thursday, July 25th. Finally, Mizuho raised Vertiv from a neutral rating to an outperform rating and lowered their price objective for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $110.44.

Vertiv Stock Performance

Shares of Vertiv stock opened at $107.47 on Tuesday. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 103.34, a PEG ratio of 1.42 and a beta of 1.59. The firm’s fifty day simple moving average is $87.74 and its 200-day simple moving average is $88.65. 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 12 month low of $34.60 and a 12 month high of $113.43.

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

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. Vertiv’s payout ratio is 9.62%.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of Vertiv 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 transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC increased its holdings in Vertiv by 25.1% during the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after acquiring an additional 92 shares in the last quarter. NBC Securities Inc. grew its position in shares of Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after purchasing an additional 112 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Vertiv by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock worth $53,000 after purchasing an additional 119 shares in the last quarter. Callan Family Office LLC raised its position in shares of Vertiv by 0.9% during the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after purchasing an additional 137 shares during the last quarter. Finally, First Community Trust NA grew its holdings in Vertiv by 12.1% during the 3rd quarter. First Community Trust NA now owns 1,446 shares of the company’s stock valued at $144,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.