Vertiv (NYSE:VRT) Reaches New 12-Month High Following Strong Earnings

Vertiv Holdings Co (NYSE:VRT)’s stock price reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $94.39 and last traded at $90.88, with a volume of 8073047 shares trading hands. The stock had previously closed at $79.17.

The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s payout ratio is currently 8.47%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VRT shares. Citigroup lifted their price objective on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer upped their price objective on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Bank of America increased their price target on Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Mizuho lifted their price objective on Vertiv from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and a consensus target price of $76.78.

Insiders Place Their Bets

In other news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The disclosure for this sale can be found here. Insiders own 5.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. MONECO Advisors LLC acquired a new stake in Vertiv in the 1st quarter valued at about $334,000. Bogart Wealth LLC acquired a new position in shares of Vertiv during the 1st quarter worth approximately $25,000. Lindbrook Capital LLC lifted its holdings in Vertiv by 33.2% during the 1st quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock valued at $45,000 after purchasing an additional 137 shares during the last quarter. New York State Teachers Retirement System boosted its position in Vertiv by 9.7% during the first quarter. New York State Teachers Retirement System now owns 31,340 shares of the company’s stock worth $2,560,000 after purchasing an additional 2,778 shares during the period. Finally, Ulland Investment Advisors LLC increased its holdings in shares of Vertiv by 858.6% in the first quarter. Ulland Investment Advisors LLC now owns 57,121 shares of the company’s stock valued at $4,665,000 after purchasing an additional 51,162 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Price Performance

The company has a market capitalization of $34.51 billion, a P/E ratio of 76.57, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The company’s 50-day moving average price is $75.90 and its two-hundred day moving average price is $57.10.

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.