Vertiv (NYSE:VRT) Stock Price Expected to Rise, Citigroup Analyst Says

Vertiv (NYSE:VRT) had its price target increased by investment analysts at Citigroup from $134.00 to $141.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 4.25% from the company’s previous close.

A number of other research analysts also recently commented on VRT. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday. Mizuho upped their price target on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Bank of America boosted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $138.50.

Vertiv Trading Up 9.9 %

Shares of VRT traded up $12.23 on Tuesday, hitting $135.25. 6,047,632 shares of the stock traded hands, compared to its average volume of 8,158,379. Vertiv has a 1 year low of $41.01 and a 1 year high of $135.85. The stock’s 50 day moving average is $106.34 and its two-hundred day moving average is $93.93. The firm has a market capitalization of $50.76 billion, a P/E ratio of 90.17, a P/E/G ratio of 1.31 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, sell-side analysts predict that Vertiv will post 2.69 earnings per share for the current year.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a legal 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

A number of hedge funds have recently made changes to their positions in VRT. Clearbridge Investments LLC increased its stake in Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after buying an additional 340,639 shares during the period. Whittier Trust Co. grew its stake in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after acquiring an additional 8,579 shares in the last quarter. Janney Capital Management LLC purchased a new stake in shares of Vertiv during the third quarter worth about $8,403,000. Assenagon Asset Management S.A. lifted its stake in shares of Vertiv by 190.7% in the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock worth $5,564,000 after acquiring an additional 36,684 shares in the last quarter. Finally, Entropy Technologies LP boosted its holdings in Vertiv by 42.4% in the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after purchasing an additional 9,479 shares during 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.