Vertiv (NYSE:VRT) Trading Down 1.6%

Shares of Vertiv Holdings Co (NYSE:VRT) fell 1.6% during trading on Thursday . The stock traded as low as $90.76 and last traded at $92.63. 2,179,618 shares changed hands during trading, a decline of 74% from the average session volume of 8,374,567 shares. The stock had previously closed at $94.10.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. 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, April 25th. The Goldman Sachs Group upped their price objective on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Mizuho lifted their target price on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Evercore ISI upped their price target on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Finally, Bank of America lifted their price objective on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Vertiv has an average rating of “Moderate Buy” and an average price target of $92.11.

Vertiv Stock Down 1.3 %

The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The stock has a market cap of $34.76 billion, a PE ratio of 89.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.58. The company’s 50-day moving average price is $94.70 and its 200 day moving average price is $76.84.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 EPS 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 44.95%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the company earned $0.24 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, analysts forecast that Vertiv Holdings Co will post 2.43 EPS for the current fiscal year.

Vertiv Announces Dividend

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

Insider Activity

In other Vertiv news, insider Yibin Edward Cui sold 668 shares of the company’s stock in a transaction that occurred on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction dated Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the transaction, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Doherty Philip O’ sold 2,511,295 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $93.64, for a total value of $235,157,663.80. Following the sale, the director now owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The disclosure for this sale can be found here. Insiders have sold a total of 4,162,739 shares of company stock valued at $400,713,362 in the last ninety days. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Vertiv during the 4th quarter valued at about $185,339,000. Price T Rowe Associates Inc. MD boosted its stake in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares during the last quarter. Vanguard Group Inc. grew its holdings in Vertiv by 12.1% during the 3rd quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock valued at $1,176,590,000 after buying an additional 3,417,710 shares in the last quarter. Coatue Management LLC increased its stake in Vertiv by 19.5% in the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after acquiring an additional 2,249,353 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in Vertiv in the 1st quarter worth approximately $135,987,000. 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.