Vertiv (NYSE:VRT) Trading Down 2.3%

Vertiv Holdings Co (NYSE:VRT) dropped 2.3% during mid-day trading on Friday . The company traded as low as $91.11 and last traded at $91.31. Approximately 2,962,416 shares changed hands during trading, a decline of 65% from the average daily volume of 8,479,524 shares. The stock had previously closed at $93.42.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VRT. Oppenheimer increased their price target on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Citigroup upped their price objective on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group lifted their target price on Vertiv from $103.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Mizuho upped their price target 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. Finally, Evercore ISI lifted their price objective on shares of Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.11.

Vertiv Price Performance

The firm has a market capitalization of $34.48 billion, a P/E ratio of 87.80, a PEG ratio of 1.36 and a beta of 1.58. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The business’s 50 day moving average is $94.68 and its 200-day moving average is $75.41.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. 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 firm earned $0.24 EPS. Vertiv’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Vertiv Holdings Co will post 2.43 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were given a $0.025 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Activity

In other news, Director Doherty Philip O’ sold 488,705 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the completion of the transaction, the director now owns 11,835,476 shares of the company’s stock, valued at $1,108,747,391.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Doherty Philip O’ sold 488,705 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the completion of the transaction, the director now directly owns 11,835,476 shares in the company, valued at $1,108,747,391.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger Fradin sold 16,667 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total value of $1,731,034.62. Following the completion of the sale, the director now owns 218,333 shares in the company, valued at $22,676,065.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,162,739 shares of company stock worth $400,713,362. Insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

A number of hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in shares of Vertiv by 20.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,335 shares of the company’s stock valued at $124,000 after purchasing an additional 564 shares during the period. Lazard Asset Management LLC increased its stake in shares of Vertiv by 534.0% in the 3rd quarter. Lazard Asset Management LLC now owns 26,109 shares of the company’s stock valued at $971,000 after acquiring an additional 21,991 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Vertiv by 4.2% during the third quarter. Advisors Asset Management Inc. now owns 31,903 shares of the company’s stock valued at $1,187,000 after purchasing an additional 1,283 shares during the period. Sei Investments Co. raised its position in shares of Vertiv by 44.2% during the third quarter. Sei Investments Co. now owns 595,334 shares of the company’s stock worth $22,147,000 after purchasing an additional 182,594 shares during the period. Finally, Scotia Capital Inc. bought a new position in shares of Vertiv in the third quarter valued at $219,000. Institutional investors own 89.92% of the company’s stock.

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.