Vertiv (NYSE:VRT) Trading Down 3.2% – Here’s What Happened

Shares of Vertiv Holdings Co (NYSE:VRT) dropped 3.2% during trading on Thursday . The stock traded as low as $79.91 and last traded at $82.67. Approximately 3,068,644 shares traded hands during trading, a decline of 72% from the average daily volume of 10,865,439 shares. The stock had previously closed at $85.38.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VRT shares. Citigroup lifted their target price on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Evercore ISI decreased their target price on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Morgan Stanley started coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada started coverage on shares of Vertiv in a research note on Friday, March 7th. They issued an “outperform” rating and a $121.00 target price on the stock. Four investment 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.07.

Vertiv Trading Up 5.3 %

The stock has a market cap of $33.33 billion, a P/E ratio of 68.39, a PEG ratio of 1.07 and a beta of 1.71. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The stock’s fifty day moving average price is $111.69 and its 200 day moving average price is $110.68.

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

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 11.72%.

Hedge Funds Weigh In On Vertiv

Several large investors have recently modified their holdings of the stock. Fifth Third Bancorp raised its position in shares of Vertiv by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company’s stock worth $128,000 after purchasing an additional 84 shares during the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Vertiv by 2.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company’s stock worth $420,000 after purchasing an additional 85 shares during the last quarter. Accurate Wealth Management LLC raised its position in shares of Vertiv by 4.1% in the 4th quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock worth $254,000 after purchasing an additional 87 shares during the last quarter. Horizon Investment Services LLC raised its position in shares of Vertiv by 4.1% in the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company’s stock worth $274,000 after purchasing an additional 95 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its position in shares of Vertiv by 3.1% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company’s stock worth $367,000 after purchasing an additional 97 shares during 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.