Vertiv (NYSE:VRT) Shares Down 0.9% – Here’s Why

Vertiv Holdings Co (NYSE:VRT) shares fell 0.9% on Monday . The stock traded as low as $104.58 and last traded at $105.89. 1,570,755 shares traded hands during trading, a decline of 81% from the average session volume of 8,256,960 shares. The stock had previously closed at $106.90.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VRT. Bank of America increased their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Mizuho increased their price objective on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup increased their price objective on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $122.11.

Vertiv Price Performance

The business has a 50-day moving average price of $96.92 and a 200 day moving average price of $91.26. The company has a market cap of $40.24 billion, a price-to-earnings ratio of 70.59, a P/E/G ratio of 1.19 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.00 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is 6.67%.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in Vertiv during the second quarter worth about $26,000. Mather Group LLC. increased its holdings in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Krane Funds Advisors LLC bought a new stake in Vertiv in the third quarter valued at approximately $29,000. Global Trust Asset Management LLC acquired a new position in Vertiv in the third quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Vertiv during the 2nd quarter worth approximately $34,000. 89.92% of the stock is 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.