Evercore ISI Raises Vertiv (NYSE:VRT) Price Target to $95.00

Vertiv (NYSE:VRT) had its target price hoisted by Evercore ISI from $90.00 to $95.00 in a research note released on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Mizuho upped their price target on Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Bank of America upped their price target on shares of Vertiv from $80.00 to $90.00 and gave the company a buy rating in a report on Monday, March 18th. Oppenheimer raised their price objective on shares of Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a report on Thursday. Citigroup raised their price objective on shares of Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $81.11.

Vertiv Stock Up 3.5 %

NYSE VRT opened at $93.49 on Thursday. The stock has a market cap of $35.71 billion, a PE ratio of 89.89, a P/E/G ratio of 1.44 and a beta of 1.59. Vertiv has a fifty-two week low of $13.73 and a fifty-two week high of $95.32. The business has a 50 day moving average price of $76.51 and a two-hundred day moving average price of $57.59. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45.

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

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Activity

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

Institutional Trading of Vertiv

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB bought a new stake in Vertiv in the 4th quarter valued at about $1,040,000. Xponance Inc. lifted its position in Vertiv by 2.9% in the 4th quarter. Xponance Inc. now owns 14,984 shares of the company’s stock valued at $720,000 after purchasing an additional 426 shares during the last quarter. WT Asset Management Ltd bought a new stake in Vertiv in the 4th quarter valued at about $24,486,000. CenterBook Partners LP lifted its position in Vertiv by 82.0% in the 3rd quarter. CenterBook Partners LP now owns 174,938 shares of the company’s stock valued at $6,508,000 after purchasing an additional 78,793 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its position in Vertiv by 791.6% in the 3rd quarter. Quadrature Capital Ltd now owns 92,628 shares of the company’s stock valued at $3,445,000 after purchasing an additional 82,239 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

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.