Vertiv Holdings Co (NYSE:VRT) Raises Dividend to $0.04 Per Share

Vertiv Holdings Co (NYSE:VRT) declared a quarterly dividend on Monday, November 18th,RTT News reports. Stockholders of record on Tuesday, December 3rd will be paid a dividend of 0.0375 per share on Thursday, December 19th. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03.

Vertiv has raised its dividend payment by an average of 35.7% annually over the last three years. Vertiv has a payout ratio of 2.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Vertiv to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 2.9%.

Vertiv Trading Down 0.1 %

Shares of VRT stock opened at $120.87 on Monday. The stock has a 50-day simple moving average of $105.37 and a 200 day simple moving average of $93.71. The stock has a market capitalization of $45.37 billion, a P/E ratio of 80.58, a P/E/G ratio of 1.31 and a beta of 1.58. Vertiv has a fifty-two week low of $41.01 and a fifty-two week high of $130.30. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, sell-side analysts expect that Vertiv will post 2.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VRT shares. Citigroup increased their price target on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen raised their target price on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group assumed coverage on shares of Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Bank of America increased their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $125.40.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.01% of the stock is owned by insiders.

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.