Vertiv (NYSE:VRT) Stock Price Down 2.1% – Here’s Why

Vertiv Holdings Co (NYSE:VRT)’s share price traded down 2.1% during mid-day trading on Thursday . The stock traded as low as $119.61 and last traded at $121.96. 2,308,246 shares were traded during mid-day trading, a decline of 72% from the average session volume of 8,168,933 shares. The stock had previously closed at $124.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VRT. TD Cowen raised their target price on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer upped their target price on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Citigroup upped their price target on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America boosted their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group assumed coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and an average price target of $125.40.

Vertiv Price Performance

The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The company’s 50-day moving average price is $105.37 and its two-hundred day moving average price is $93.67. The company has a market cap of $45.36 billion, a P/E ratio of 80.57, a P/E/G ratio of 1.35 and a beta of 1.58.

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

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.01% of the stock is currently owned by insiders.

Institutional Trading of Vertiv

Large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position in Vertiv by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after purchasing an additional 408,054 shares during the last quarter. Vestcor Inc grew its holdings in Vertiv by 155.6% in the 3rd quarter. Vestcor Inc now owns 39,734 shares of the company’s stock worth $3,953,000 after buying an additional 24,189 shares in the last quarter. M&T Bank Corp raised its stake in shares of Vertiv by 6.5% during the third quarter. M&T Bank Corp now owns 35,911 shares of the company’s stock valued at $3,573,000 after purchasing an additional 2,192 shares in the last quarter. Barclays PLC increased its stake in shares of Vertiv by 51.4% during the third quarter. Barclays PLC now owns 431,586 shares of the company’s stock valued at $42,940,000 after acquiring an additional 146,463 shares during the period. Finally, Continuum Advisory LLC raised its holdings in Vertiv by 36.2% during the third quarter. Continuum Advisory LLC now owns 1,481 shares of the company’s stock worth $147,000 after purchasing an additional 394 shares in the last quarter. Institutional investors and hedge funds 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.