Vertiv (NYSE:VRT) Price Target Raised to $121.00 at Oppenheimer

Vertiv (NYSE:VRT) had its price target increased by Oppenheimer from $115.00 to $121.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on VRT. Evercore ISI boosted their price target on Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. The Goldman Sachs Group cut their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup lifted their price objective on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average price target of $122.11.

Vertiv Stock Up 0.9 %

Shares of Vertiv stock opened at $111.00 on Thursday. Vertiv has a twelve month low of $34.60 and a twelve month high of $116.41. The stock has a market capitalization of $41.55 billion, a price-to-earnings ratio of 105.82, a PEG ratio of 1.42 and a beta of 1.59. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The business’s 50 day simple moving average is $92.37 and its 200-day simple moving average is $89.83.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities research analysts forecast that Vertiv will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after buying an additional 1,766,784 shares during the period. Price T Rowe Associates Inc. MD increased its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv in the 2nd quarter valued at approximately $331,091,000. Westfield Capital Management Co. LP lifted its holdings in Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after purchasing an additional 1,563,466 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Vertiv by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after purchasing an additional 451,830 shares during the last quarter. 89.92% of the stock is 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.