Vertiv (NYSE:VRT) Trading Down 2.1% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) was down 2.1% during trading on Thursday . The stock traded as low as $119.61 and last traded at $121.96. Approximately 2,308,246 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 8,168,933 shares. The stock had previously closed at $124.53.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Oppenheimer upped their price objective on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lowered 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. Mizuho increased their price target on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $125.40.

Vertiv Stock Down 2.2 %

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 firm has a market cap of $45.71 billion, a price-to-earnings ratio of 81.31, a PEG ratio of 1.34 and a beta of 1.58. The firm has a fifty day moving average price of $103.47 and a 200-day moving average price of $93.30.

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

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given 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 0.08%. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’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 value of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VRT. Empowered Funds LLC bought a new position in Vertiv in the 1st quarter valued at about $372,000. US Bancorp DE lifted its position in Vertiv by 25.7% in the first quarter. US Bancorp DE now owns 14,412 shares of the company’s stock worth $1,177,000 after purchasing an additional 2,951 shares during the period. Bleakley Financial Group LLC boosted its stake in Vertiv by 284.5% during the 1st quarter. Bleakley Financial Group LLC now owns 19,204 shares of the company’s stock valued at $1,568,000 after purchasing an additional 14,210 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Vertiv by 0.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 310,004 shares of the company’s stock valued at $25,318,000 after purchasing an additional 2,084 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of Vertiv in the first quarter valued at $284,000. 89.92% of the stock is owned by institutional investors and hedge funds.

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.