Vertiv (NYSE:VRT) PT Raised to $115.00 at Oppenheimer

Vertiv (NYSE:VRT) had its target price hoisted by Oppenheimer from $100.00 to $115.00 in a report released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on VRT. The Goldman Sachs Group cut their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. TD Cowen upped their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group began coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Finally, Evercore ISI upped their price objective on Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv currently has an average rating of “Buy” and an average target price of $112.44.

Vertiv Price Performance

Shares of NYSE:VRT opened at $114.28 on Monday. Vertiv has a twelve month low of $34.60 and a twelve month high of $116.19. The company’s 50 day moving average is $89.49 and its 200 day moving average is $88.98. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The company has a market cap of $42.78 billion, a PE ratio of 109.88, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $0.46 EPS. Vertiv’s quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Vertiv will post 2.58 EPS for the current year.

Vertiv Announces Dividend

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

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’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 sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.01% of the stock is owned by insiders.

Institutional Trading of Vertiv

A number of institutional investors and hedge funds have recently bought and sold shares of VRT. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv during the second quarter worth about $331,091,000. Price T Rowe Associates Inc. MD grew its position in shares of Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares in the last quarter. Castle Hook Partners LP acquired a new position in shares of Vertiv during the first quarter worth about $135,987,000. Finally, Westfield Capital Management Co. LP grew its position in shares of Vertiv by 85.2% during the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after buying an additional 1,563,466 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.