Vertiv (NYSE:VRT) Stock Price Up 2.1% After Analyst Upgrade

Shares of Vertiv Holdings Co (NYSE:VRT) rose 2.1% during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $103.00 to $116.00. The Goldman Sachs Group currently has a buy rating on the stock. Vertiv traded as high as $99.74 and last traded at $98.89. Approximately 1,650,163 shares changed hands during trading, a decline of 79% from the average daily volume of 8,000,446 shares. The stock had previously closed at $96.81.

A number of other brokerages also recently issued reports on VRT. Citigroup boosted their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Oppenheimer lifted their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Mizuho lifted their target price on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Bank of America lifted their target price on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.00.

Insiders Place Their Bets

In other Vertiv news, EVP Anders Karlborg sold 46,206 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $93.75, for a total value of $4,331,812.50. Following the sale, the executive vice president now owns 23,003 shares in the company, valued at approximately $2,156,531.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Stephen Liang sold 306,196 shares of the company’s 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 sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anders Karlborg sold 46,206 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the sale, the executive vice president now owns 23,003 shares in the company, valued at $2,156,531.25. The disclosure for this sale can be found here. Insiders have sold a total of 3,426,331 shares of company stock worth $312,577,246 in the last 90 days. 5.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Vertiv

Several hedge funds have recently made changes to their positions in VRT. Bogart Wealth LLC purchased a new stake in shares of Vertiv during the 1st quarter valued at about $25,000. GAMMA Investing LLC bought a new position in Vertiv during the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. grew its holdings in Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares during the last quarter. Atticus Wealth Management LLC bought a new position in Vertiv during the 1st quarter valued at about $27,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Vertiv during the 1st quarter valued at about $34,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Price Performance

The company has a market capitalization of $37.12 billion, a P/E ratio of 95.36, a P/E/G ratio of 1.46 and a beta of 1.55. The firm’s fifty day moving average is $86.41 and its 200 day moving average is $64.58. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. As a group, analysts predict that Vertiv Holdings Co will post 2.42 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 0.10%. Vertiv’s dividend payout ratio is currently 9.62%.

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.