Vertiv (NYSE:VRT) Issues Earnings Results, Beats Expectations By $0.07 EPS

Vertiv (NYSE:VRT) announced its quarterly earnings results on Wednesday. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07, Briefing.com reports. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share.

Vertiv Stock Up 1.0 %

VRT traded up $1.05 during trading on Thursday, hitting $109.41. 3,889,132 shares of the company’s stock were exchanged, compared to its average volume of 8,365,608. The stock has a market cap of $40.96 billion, a P/E ratio of 105.53, a PEG ratio of 1.42 and a beta of 1.59. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41. The business’s 50 day moving average is $92.37 and its two-hundred day moving average is $89.83. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. Vertiv’s dividend payout ratio is 9.62%.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VRT has been the subject of several recent analyst reports. Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup boosted their price objective on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen lifted their price target on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group decreased their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $119.67.

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.