Vertiv (NYSE:VRT) Trading Up 0.7% After Earnings Beat

Shares of Vertiv Holdings Co (NYSE:VRT) shot up 0.7% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $115.00 and last traded at $113.26. 7,723,320 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 8,334,112 shares. The stock had previously closed at $112.47.

The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company posted $0.52 EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis.

Vertiv Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Oppenheimer raised their price target on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Evercore ISI raised their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $122.11.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several large investors have recently made changes to their positions in the business. Anchor Investment Management LLC acquired a new stake in shares of Vertiv in the second quarter valued at about $26,000. Atticus Wealth Management LLC purchased a new stake in shares of Vertiv in the first quarter valued at about $27,000. Mather Group LLC. grew its holdings in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Krane Funds Advisors LLC purchased a new position in Vertiv during the third quarter worth about $29,000. Finally, Global Trust Asset Management LLC purchased a new position in Vertiv during the third quarter worth about $30,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Trading Up 1.9 %

The company has a market cap of $41.99 billion, a PE ratio of 109.34, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The company’s 50 day simple moving average is $92.92 and its two-hundred day simple moving average is $89.97.

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.