Vertiv (NYSE:VRT) Stock Price Down 1.2% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) fell 1.2% on Friday . The stock traded as low as $139.14 and last traded at $139.77. 1,324,611 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 8,188,487 shares. The stock had previously closed at $141.49.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VRT shares. UBS Group started coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price for the company. TD Cowen increased their price objective on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group raised their target price on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Mizuho lifted their price objective on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Trading Down 0.4 %

The business’s 50 day simple moving average is $109.85 and its two-hundred day simple moving average is $94.90. The stock has a market cap of $52.90 billion, a P/E ratio of 93.18, a PEG 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 (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations 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 firm earned $0.52 EPS. As a group, analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of Vertiv 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. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRT. Jennison Associates LLC boosted its position in shares of Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv during the 2nd quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD increased its stake in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after acquiring an additional 3,591,903 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares during the period. Finally, Castle Hook Partners LP boosted its stake in Vertiv by 215.6% during the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after acquiring an additional 1,273,746 shares in the last quarter. 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.