Citigroup Boosts Vertiv (NYSE:VRT) Price Target to $110.00

Vertiv (NYSE:VRT) had its price objective raised by Citigroup from $102.00 to $110.00 in a report published on Thursday, Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other analysts have also commented on VRT. Evercore ISI lifted their target price on shares of Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a report on Thursday. Oppenheimer lifted their target price on shares of Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a report on Thursday. Mizuho lifted their target price on shares of Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Finally, Bank of America lifted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $81.11.

Vertiv Stock Performance

Shares of Vertiv stock opened at $93.49 on Thursday. 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 firm has a market cap of $35.71 billion, a P/E ratio of 89.89, a P/E/G ratio of 1.44 and a beta of 1.59. The firm has a 50 day simple moving average of $76.51 and a 200 day simple moving average of $57.59. Vertiv has a fifty-two week low of $13.73 and a fifty-two week high of $95.32.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $0.24 earnings per share. Vertiv’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Vertiv will post 2.35 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 annualized dividend and a yield of 0.11%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vertiv

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Vertiv by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock worth $53,000 after buying an additional 119 shares in the last quarter. Lindbrook Capital LLC lifted its position in Vertiv by 33.2% during the 1st quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock worth $45,000 after buying an additional 137 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Vertiv by 24.7% during the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock worth $41,000 after buying an additional 170 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Vertiv by 66.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Finally, Simon Quick Advisors LLC increased its stake in shares of Vertiv by 1.0% during the 4th quarter. Simon Quick Advisors LLC now owns 20,065 shares of the company’s stock worth $964,000 after purchasing an additional 205 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

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.