Vertiv (NYSE:VRT) Trading 0.4% Higher – Time to Buy?

Vertiv Holdings Co (NYSE:VRT)’s stock price shot up 0.4% during trading on Friday . The stock traded as high as $123.70 and last traded at $122.67. 1,078,585 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 8,212,595 shares. The stock had previously closed at $122.17.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VRT shares. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Jefferies Financial Group started coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Citigroup lifted their price objective on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Evercore ISI increased their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average target price of $122.11.

Vertiv Stock Performance

The stock has a market cap of $47.20 billion, a PE ratio of 83.83, a P/E/G ratio of 1.31 and a beta of 1.58. The company has a fifty day moving average price of $100.63 and a 200 day moving average price of $92.46. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. Vertiv’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. Analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC lifted its stake in shares of Vertiv by 15.4% in the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after buying an additional 340,639 shares in the last quarter. Whittier Trust Co. increased its position in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after acquiring an additional 8,579 shares in the last quarter. Janney Capital Management LLC purchased a new position in Vertiv in the 3rd quarter worth approximately $8,403,000. Assenagon Asset Management S.A. lifted its position in Vertiv by 190.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after acquiring an additional 36,684 shares in the last quarter. Finally, Generate Investment Management Ltd boosted its stake in Vertiv by 180.8% during the 3rd quarter. Generate Investment Management Ltd now owns 598,372 shares of the company’s stock valued at $59,532,000 after purchasing an additional 385,251 shares during the last quarter. 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.