Vertiv (NYSE:VRT) Stock Price Down 0.8% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT) shares were down 0.8% on Thursday . The stock traded as low as $93.70 and last traded at $97.80. Approximately 5,170,356 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 10,675,347 shares. The stock had previously closed at $98.61.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Citigroup lifted their target price on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Fox Advisors started coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating for the company. Finally, Melius Research reaffirmed a “hold” rating and issued a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Vertiv Stock Down 6.5 %

The company has a market cap of $34.60 billion, a PE ratio of 72.02, a PEG ratio of 1.07 and a beta of 1.64. The stock’s 50 day moving average price is $119.31 and its 200-day moving average price is $110.24. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter in the previous year, the company earned $0.56 EPS. On average, analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Institutional Trading of Vertiv

Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new stake in Vertiv during the 4th quarter valued at $597,379,000. Jennison Associates LLC boosted its holdings 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 buying an additional 4,558,306 shares in the last quarter. Norges Bank bought a new position in Vertiv in the 4th quarter valued at approximately $391,777,000. Wellington Management Group LLP boosted its stake in 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 purchasing an additional 2,860,181 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Vertiv by 136.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company’s stock worth $379,101,000 after purchasing an additional 1,928,275 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

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.