Vertiv (NYSE:VRT) Reaches New 1-Year High Following Dividend Announcement

Shares of Vertiv Holdings Co (NYSE:VRT) reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $131.33 and last traded at $131.12, with a volume of 2929031 shares traded. The stock had previously closed at $123.02.

The newly announced dividend which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.11%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America lifted their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Mizuho increased their price objective on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Finally, UBS Group initiated coverage on Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and a consensus price target of $131.60.

Vertiv Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm’s fifty day moving average price is $106.34 and its 200-day moving average price is $93.93. The stock has a market cap of $49.81 billion, a P/E ratio of 88.93, a PEG ratio of 1.31 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for 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%. The company’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. Analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VRT. TCW Group Inc. boosted its stake in shares of Vertiv by 9.5% during the 3rd quarter. TCW Group Inc. now owns 498,387 shares of the company’s stock valued at $49,585,000 after purchasing an additional 43,148 shares in the last quarter. Virtue Capital Management LLC raised its position in shares of Vertiv by 1.2% in the 3rd quarter. Virtue Capital Management LLC now owns 15,061 shares of the company’s stock worth $1,498,000 after acquiring an additional 177 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Vertiv by 26.6% in the 3rd quarter. Toronto Dominion Bank now owns 43,521 shares of the company’s stock valued at $4,330,000 after purchasing an additional 9,150 shares during the period. TT International Asset Management LTD boosted its position in shares of Vertiv by 746.5% during the third quarter. TT International Asset Management LTD now owns 50,098 shares of the company’s stock valued at $4,984,000 after purchasing an additional 44,180 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Vertiv by 10.0% in the third quarter. Coldstream Capital Management Inc. now owns 5,134 shares of the company’s stock worth $528,000 after purchasing an additional 468 shares during the period. 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.