Vertiv (NYSE:VRT) Shares Gap Down – What’s Next?

Vertiv Holdings Co (NYSE:VRT)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $112.47, but opened at $107.00. Vertiv shares last traded at $113.89, with a volume of 4,326,018 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VRT shares. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Mizuho raised their price objective on Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Evercore ISI raised their price objective on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Bank of America raised their price objective on Vertiv from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, TD Cowen raised their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $112.44.

Vertiv Price Performance

The firm has a fifty day moving average of $91.81 and a 200 day moving average of $89.70. The company has a market capitalization of $40.68 billion, a P/E ratio of 108.90, a P/E/G 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.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $0.46 EPS. Vertiv’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 annualized dividend and a yield of 0.09%. Vertiv’s payout ratio is 9.62%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s 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 completion of the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vertiv

A number of large investors have recently made changes to their positions in VRT. Anchor Investment Management LLC bought a new stake in shares of Vertiv during the 2nd quarter valued at about $26,000. Atticus Wealth Management LLC bought a new position in shares of Vertiv during the 1st quarter valued at approximately $27,000. Mather Group LLC. grew its stake in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the period. Krane Funds Advisors LLC purchased a new position in Vertiv in the 3rd quarter worth approximately $29,000. Finally, Global Trust Asset Management LLC purchased a new position in Vertiv in the 3rd quarter worth approximately $30,000. 89.92% of the stock is currently owned by 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.