Vertiv (NYSE:VRT) Price Target Raised to $98.00

Vertiv (NYSE:VRT) had its price target raised by Oppenheimer from $96.00 to $98.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America increased their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research report on Monday, March 18th. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a research note on Thursday. Citigroup increased their price objective on shares of Vertiv from $69.00 to $102.00 and gave the company a buy rating in a research note on Monday, April 8th. Evercore ISI increased their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company an outperform rating in a research note on Friday, April 5th. Finally, Mizuho raised their price target on shares of Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Vertiv currently has an average rating of Moderate Buy and an average price target of $81.11.

Vertiv Stock Up 3.5 %

Shares of NYSE:VRT opened at $93.49 on Thursday. The company has a market capitalization of $35.71 billion, a PE ratio of 89.89, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59. Vertiv has a 52-week low of $13.73 and a 52-week high of $95.32. The company has a fifty day moving average of $76.51 and a 200-day moving average of $57.59. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74.

Vertiv (NYSE:VRT) last posted its quarterly earnings data 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 return on equity of 42.43% and a net margin of 5.79%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business posted $0.24 earnings per share. Vertiv’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that Vertiv will post 2.35 EPS for the current fiscal year.

Vertiv Dividend Announcement

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

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 306,196 shares of Vertiv 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 directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Stephen Liang sold 306,196 shares of Vertiv 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 directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Scott Cripps sold 56,594 shares of the firm’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 owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in Vertiv by 182.4% in the 3rd quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after purchasing an additional 30,511,907 shares during the period. Vanguard Group Inc. boosted its holdings in Vertiv by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 31,855,473 shares of the company’s stock valued at $1,530,018,000 after purchasing an additional 226,716 shares during the period. Coatue Management LLC boosted its holdings in Vertiv by 19.5% in the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the period. Invesco Ltd. boosted its holdings in Vertiv by 10.2% in the 3rd quarter. Invesco Ltd. now owns 10,817,978 shares of the company’s stock valued at $402,429,000 after purchasing an additional 1,002,191 shares during the period. Finally, Norges Bank bought a new position in Vertiv in the 4th quarter valued at $185,339,000. 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.