Vertiv (NYSE:VRT) Trading Down 8.4% After Analyst Downgrade

Shares of Vertiv Holdings Co (NYSE:VRT) traded down 8.4% during trading on Wednesday after Barclays lowered their price target on the stock from $111.00 to $100.00. Barclays currently has an equal weight rating on the stock. Vertiv traded as low as $82.40 and last traded at $83.85. 6,821,217 shares traded hands during trading, a decline of 20% from the average session volume of 8,506,335 shares. The stock had previously closed at $91.58.

VRT has been the topic of a number of other research reports. Melius Research reiterated a “hold” rating and set a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. Morgan Stanley started coverage on Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 target price on the stock. Fox Advisors started coverage on Vertiv in a research report on Monday, January 6th. They issued an “equal weight” rating for the company. Citigroup raised their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Evercore ISI decreased their price objective on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and an average target price of $135.33.

Institutional Investors Weigh In On Vertiv

A number of hedge funds have recently modified their holdings of the business. Fifth Third Bancorp lifted its position in Vertiv by 8.1% during the fourth quarter. Fifth Third Bancorp now owns 1,126 shares of the company’s stock valued at $128,000 after purchasing an additional 84 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Vertiv by 2.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company’s stock valued at $420,000 after buying an additional 85 shares in the last quarter. Accurate Wealth Management LLC grew its stake in shares of Vertiv by 4.1% during the 4th quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock valued at $254,000 after acquiring an additional 87 shares during the period. Horizon Investment Services LLC grew its stake in shares of Vertiv by 4.1% during the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company’s stock valued at $274,000 after acquiring an additional 95 shares during the period. Finally, Focus Partners Advisor Solutions LLC raised its stake in Vertiv by 3.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company’s stock worth $367,000 after acquiring an additional 97 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

The firm has a market cap of $29.11 billion, a PE ratio of 59.72, a P/E/G ratio of 1.07 and a beta of 1.71. The firm’s fifty day simple moving average is $103.98 and its two-hundred day simple moving average is $111.23. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same period last year, the firm posted $0.56 earnings per share. As a group, research analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were paid a $0.0375 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.20%. Vertiv’s payout ratio is 11.72%.

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.