Vertiv (NYSE:VRT) Stock Price Down 0.7% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price fell 0.7% on Friday . The company traded as low as $131.71 and last traded at $133.66. 1,334,441 shares traded hands during trading, a decline of 84% from the average session volume of 8,142,303 shares. The stock had previously closed at $134.58.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. The Goldman Sachs Group lifted their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Bank of America lifted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI upped their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup raised their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, TD Cowen increased 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. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Trading Down 2.2 %

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 firm’s 50 day moving average is $117.39 and its two-hundred day moving average is $97.19. The stock has a market cap of $49.41 billion, a price-to-earnings ratio of 89.11, a price-to-earnings-growth ratio of 1.32 and a beta of 1.61.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.98 billion. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts anticipate 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. Shareholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Transactions at Vertiv

In other news, Director Jakki L. Haussler sold 15,347 shares of the company’s 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 completion of the sale, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,527 shares of company stock worth $23,105,682. Company insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several institutional investors have recently modified their holdings of VRT. Blankinship & Foster LLC bought a new stake in shares of Vertiv during the 3rd quarter worth $8,798,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vertiv in the third quarter worth $584,000. World Investment Advisors LLC purchased a new position in shares of Vertiv during the third quarter valued at $1,230,000. Sanctuary Advisors LLC raised its position in Vertiv by 170.2% during the third quarter. Sanctuary Advisors LLC now owns 47,179 shares of the company’s stock valued at $4,694,000 after buying an additional 29,719 shares during the period. Finally, Old West Investment Management LLC lifted its stake in Vertiv by 44.1% in the 3rd quarter. Old West Investment Management LLC now owns 28,372 shares of the company’s stock worth $2,823,000 after acquiring an additional 8,683 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.