Vertiv (NYSE:VRT) Trading Down 1.1% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price fell 1.1% during trading on Thursday . The stock traded as low as $104.62 and last traded at $106.94. 1,517,407 shares changed hands during trading, a decline of 82% from the average session volume of 8,377,330 shares. The stock had previously closed at $108.12.

Analyst Ratings Changes

VRT has been the subject of a number of analyst reports. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. The Goldman Sachs Group decreased their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. Evercore ISI boosted their price objective on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, TD Cowen raised their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv currently has an average rating of “Buy” and an average target price of $106.89.

Vertiv Stock Performance

The firm has a market cap of $41.96 billion, a price-to-earnings ratio of 87.38, a P/E/G ratio of 1.42 and a beta of 1.59. The firm’s 50 day moving average price is $86.08 and its 200-day moving average price is $88.16. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

Vertiv (NYSE:VRT) last announced 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 net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is currently 7.81%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several institutional investors have recently bought and sold shares of VRT. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv in the 2nd quarter valued at $331,091,000. Price T Rowe Associates Inc. MD grew 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 worth $390,143,000 after buying an additional 3,591,903 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares in the last quarter. Castle Hook Partners LP bought a new position in shares of Vertiv in the first quarter valued at approximately $135,987,000. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after acquiring an additional 1,563,466 shares in the last quarter. Institutional investors and hedge funds 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.