Vertiv (NYSE:VRT) Trading Down 2% – Here’s Why

Vertiv Holdings Co (NYSE:VRT)’s stock price was down 2% during trading on Tuesday . The stock traded as low as $121.82 and last traded at $123.27. Approximately 2,470,022 shares changed hands during trading, a decline of 74% from the average daily volume of 9,642,865 shares. The stock had previously closed at $125.76.

Analyst Upgrades and Downgrades

VRT has been the subject of several recent analyst reports. Fox Advisors assumed coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “equal weight” rating for the company. TD Cowen increased their price target on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Citigroup increased their price target on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 9th. UBS Group initiated coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target for the company. Finally, Melius Research reissued a “hold” rating and set a $125.00 price objective on shares of Vertiv in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Vertiv presently has an average rating of “Moderate Buy” and an average target price of $139.36.

Vertiv Stock Performance

The company’s 50-day moving average is $124.37 and its two-hundred day moving average is $107.76. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The firm has a market cap of $46.15 billion, a P/E ratio of 81.96, a PEG ratio of 0.94 and a beta of 1.64.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Insiders Place Their Bets

In related news, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock valued at $23,105,682 in the last 90 days. 5.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VRT. Jennison Associates LLC grew 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. Wellington Management Group LLP grew its position in Vertiv by 271.0% during the third 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 last quarter. Castle Hook Partners LP lifted its position in Vertiv by 215.6% in the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after purchasing an additional 1,273,746 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Vertiv during the 3rd quarter worth approximately $110,517,000. Finally, Blue Whale Capital LLP purchased a new position in Vertiv during the 3rd quarter valued at about $93,481,000. 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.