Vertiv (NYSE:VRT) Trading 2.9% Higher – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT) shares shot up 2.9% on Thursday . The stock traded as high as $124.60 and last traded at $123.94. 2,616,177 shares traded hands during trading, a decline of 68% from the average session volume of 8,221,738 shares. The stock had previously closed at $120.43.

Analysts Set New Price Targets

VRT has been the subject of a number of research reports. Bank of America lifted their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Evercore ISI raised their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Oppenheimer upped their price objective on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho lifted their price objective on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Citigroup upped their target price on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $122.11.

Vertiv Stock Performance

The company has a market cap of $47.20 billion, a price-to-earnings ratio of 83.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The stock’s fifty day simple moving average is $99.77 and its two-hundred day simple moving average is $92.11.

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

Vertiv Dividend Announcement

The business also recently declared 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 of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.08%. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the firm’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 sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several large investors have recently modified their holdings of VRT. Anchor Investment Management LLC bought a new stake in shares of Vertiv in the second quarter worth $26,000. Mather Group LLC. increased its position in shares of Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Vertiv in the 3rd quarter worth about $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the 3rd quarter valued at about $30,000. Finally, OFI Invest Asset Management bought a new position in shares of Vertiv during the second quarter worth about $34,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

About Vertiv

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.