Vertiv (NYSE:VRT) Shares Up 3.3% After Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT) shares shot up 3.3% during mid-day trading on Friday after TD Cowen raised their price target on the stock from $93.00 to $115.00. TD Cowen currently has a buy rating on the stock. Vertiv traded as high as $114.87 and last traded at $113.71. 2,276,383 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 8,357,734 shares. The stock had previously closed at $110.03.

Several other research firms have also commented on VRT. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Mizuho lifted their target price on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Evercore ISI lifted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Citigroup increased their target price on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $122.11.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on 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 owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Institutional investors and hedge funds have recently bought and sold shares of the stock. Anchor Investment Management LLC purchased a new stake in shares of Vertiv in the 2nd quarter valued at about $26,000. Atticus Wealth Management LLC acquired a new position in Vertiv during the first quarter worth approximately $27,000. Mather Group LLC. lifted its stake in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Vertiv in the third quarter valued at approximately $29,000. Finally, Global Trust Asset Management LLC purchased a new position in shares of Vertiv during the third quarter worth approximately $30,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Up 3.3 %

The business’s fifty day moving average price is $92.92 and its 200 day moving average price is $89.97. The firm has a market capitalization of $42.57 billion, a price-to-earnings ratio of 109.34, 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.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, equities analysts expect 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. Shareholders of record on Tuesday, September 17th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

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.