Vertiv (NYSE:VRT) Trading Up 0.4% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT) shares rose 0.4% during trading on Thursday . The stock traded as high as $121.34 and last traded at $119.52. Approximately 1,847,379 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 10,020,514 shares. The stock had previously closed at $119.04.

Wall Street Analyst Weigh In

Several research firms recently commented on VRT. JPMorgan Chase & Co. raised 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, November 19th. UBS Group began coverage on shares of Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target for the company. Melius Research restated a “hold” rating and set a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. Morgan Stanley started coverage on shares of Vertiv in a report on Monday, January 6th. They set an “overweight” rating and a $150.00 price target for the company. Finally, TD Cowen lifted their target price on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.36.

Vertiv Trading Up 0.7 %

The company has a market cap of $44.98 billion, a price-to-earnings ratio of 79.96, a P/E/G ratio of 0.92 and a beta of 1.64. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a fifty day moving average price of $124.67 and a 200 day moving average price of $106.78.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is 6.67%.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of the firm’s 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 directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jan Van Dokkum sold 38,647 shares of Vertiv stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.39, for a total value of $5,271,064.33. Following the sale, the director now directly owns 25,000 shares in the company, valued at $3,409,750. The trade was a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock worth $23,105,682 in the last 90 days. Company insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

A number of hedge funds have recently added to or reduced their stakes in VRT. The Manufacturers Life Insurance Company increased its holdings in shares of Vertiv by 55.4% during the second quarter. The Manufacturers Life Insurance Company now owns 30,523 shares of the company’s stock valued at $2,642,000 after acquiring an additional 10,884 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Vertiv during the second quarter valued at approximately $1,632,000. GAMMA Investing LLC increased its holdings in shares of Vertiv by 102.1% during the third quarter. GAMMA Investing LLC now owns 1,904 shares of the company’s stock valued at $189,000 after acquiring an additional 962 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in shares of Vertiv during the third quarter valued at approximately $456,000. Finally, Fulton Bank N.A. purchased a new position in shares of Vertiv during the third quarter valued at approximately $304,000. 89.92% of the stock is currently owned by 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.