Vertiv (NYSE:VRT) Trading Down 4.5% Following Insider Selling

Vertiv Holdings Co (NYSE:VRT) was down 4.5% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $124.52 and last traded at $125.81. Approximately 2,940,270 shares were traded during trading, a decline of 64% from the average daily volume of 8,187,053 shares. The stock had previously closed at $131.74.

Specifically, Director Jan Van Dokkum sold 38,647 shares of Vertiv stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.39, for a total value of $5,271,064.33. Following the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $3,409,750. The trade was a 60.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the sale, the director now owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VRT shares. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. TD Cowen raised their price target on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group initiated coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Bank of America upped their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $138.50.

Vertiv Stock Down 4.5 %

The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The business has a fifty day simple moving average of $112.73 and a two-hundred day simple moving average of $95.67. The company has a market capitalization of $47.22 billion, a price-to-earnings ratio of 83.87, a P/E/G ratio of 1.36 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced 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. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Equities analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Hedge Funds Weigh In On Vertiv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares in the last quarter. Geode Capital Management LLC grew its holdings in Vertiv by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after acquiring an additional 408,054 shares during the last quarter. Jennison Associates LLC increased its position in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after acquiring an additional 4,558,306 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after acquiring an additional 2,860,181 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv during the second quarter worth approximately $331,091,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

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.