Vertiv (NYSE:VRT) Price Target Raised to $132.00

Vertiv (NYSE:VRT) had its price target boosted by JPMorgan Chase & Co. from $124.00 to $132.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer boosted their price target on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup boosted their target price on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group began coverage on Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target on the stock. Evercore ISI upped their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho increased their price objective on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv presently has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Stock Performance

NYSE:VRT opened at $141.75 on Tuesday. The company has a market cap of $53.20 billion, a price-to-earnings ratio of 94.50, a price-to-earnings-growth ratio of 1.53 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 has a 52 week low of $41.01 and a 52 week high of $145.67. The company has a fifty day simple moving average of $109.85 and a two-hundred day simple moving average of $94.90.

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 the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. Vertiv’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 EPS. As a group, equities analysts anticipate that Vertiv will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insider Activity

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 completion of the sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VRT. Anchor Investment Management LLC purchased a new position in shares of Vertiv in the second quarter valued at $26,000. Mather Group LLC. lifted its holdings in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Vertiv during the third quarter worth approximately $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv during the third quarter worth $30,000. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. 89.92% of the stock is 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.