Vertiv (NYSE:VRT) PT Raised to $93.00 at TD Cowen

Vertiv (NYSE:VRT) had its target price raised by TD Cowen from $89.00 to $93.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also commented on VRT. The Goldman Sachs Group decreased their price objective on Vertiv from $116.00 to $104.00 and set a buy rating on the stock in a report on Thursday. Evercore ISI upped their target price on Vertiv from $95.00 to $105.00 and gave the company an outperform rating in a research report on Friday, June 14th. Oppenheimer upped their target price on Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Bank of America upped their target price on Vertiv from $100.00 to $115.00 and gave the company a buy rating in a research report on Wednesday, May 15th. Finally, Mizuho upped their target price on Vertiv from $56.00 to $95.00 and gave the company a neutral rating in a research report on Friday, April 26th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $96.56.

Vertiv Stock Performance

Shares of NYSE VRT opened at $76.46 on Thursday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98. The stock’s fifty day moving average price is $92.30 and its two-hundred day moving average price is $79.56. Vertiv has a one year low of $25.09 and a one year high of $109.27. The firm has a market cap of $28.62 billion, a price-to-earnings ratio of 73.52, a P/E/G ratio of 1.11 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 49.53% and a net margin of 6.93%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Vertiv will post 2.5 EPS for the current year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Buying and Selling

In related news, insider Yibin Edward Cui sold 668 shares of the company’s stock in a transaction on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the sale, the insider now directly owns 19,452 shares in the company, valued at approximately $1,836,074.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the transaction, the director now directly owns 6,882,859 shares in the company, valued at $752,296,488.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yibin Edward Cui sold 668 shares of the stock in a transaction dated 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 owns 19,452 shares of the company’s stock, valued at $1,836,074.28. The disclosure for this sale can be found here. Insiders sold a total of 3,674,034 shares of company stock worth $354,931,478 in the last ninety days. 5.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Vertiv

Large investors have recently bought and sold shares of the company. Bogart Wealth LLC bought a new position in Vertiv in the first quarter valued at about $25,000. GAMMA Investing LLC bought a new position in shares of Vertiv during the fourth quarter worth about $26,000. Raleigh Capital Management Inc. raised its position in shares of Vertiv by 79.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after acquiring an additional 252 shares during the last quarter. Atticus Wealth Management LLC bought a new position in shares of Vertiv during the first quarter worth about $27,000. Finally, Mather Group LLC. raised its position in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 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.