Vertiv (NYSE:VRT) Trading Down 0.2% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price fell 0.2% during mid-day trading on Tuesday . The stock traded as low as $131.47 and last traded at $131.72. 2,575,379 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 8,189,031 shares. The stock had previously closed at $132.03.

Wall Street Analyst Weigh In

VRT has been the subject of several recent research reports. Mizuho boosted their price objective on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. UBS Group assumed coverage on shares of Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target for the company. Oppenheimer raised their price objective on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Finally, Bank of America lifted their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $138.50.

Vertiv Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The company’s fifty day moving average price is $111.84 and its 200 day moving average price is $95.42. The company has a market capitalization of $49.10 billion, a P/E ratio of 87.81, a PEG ratio of 1.44 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,185 shares of company stock worth $10,074,936 over the last three months. Company insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several institutional investors have recently made changes to their positions in the stock. Blankinship & Foster LLC bought a new stake in shares of Vertiv during the third quarter valued at approximately $8,798,000. Wilmington Savings Fund Society FSB acquired a new stake in Vertiv in the 3rd quarter valued at $584,000. World Investment Advisors LLC bought a new stake in Vertiv during the 3rd quarter valued at $1,230,000. Sanctuary Advisors LLC raised its holdings in Vertiv by 170.2% during the third quarter. Sanctuary Advisors LLC now owns 47,179 shares of the company’s stock worth $4,694,000 after buying an additional 29,719 shares during the last quarter. Finally, Old West Investment Management LLC grew its holdings in shares of Vertiv by 44.1% during the third quarter. Old West Investment Management LLC now owns 28,372 shares of the company’s stock valued at $2,823,000 after buying an additional 8,683 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.