Vertiv (NYSE:VRT) Stock Price Up 1.5% Following Analyst Upgrade

Vertiv Holdings Co. (NYSE:VRT)’s stock price was up 1.5% on Tuesday after Roth Capital raised their price target on the stock from $100.00 to $157.00. Roth Capital currently has a buy rating on the stock. Vertiv traded as high as $146.32 and last traded at $144.73. Approximately 4,437,368 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 9,386,124 shares. The stock had previously closed at $142.55.

VRT has been the topic of several other reports. Mizuho set a $150.00 target price on shares of Vertiv and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Bank of America upped their price objective on shares of Vertiv from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. UBS Group reiterated a “buy” rating on shares of Vertiv in a report on Friday, July 11th. Wolfe Research reissued an “outperform” rating and issued a $155.00 target price on shares of Vertiv in a research note on Thursday, July 10th. Finally, Morgan Stanley lowered their price target on Vertiv from $140.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.89.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 5,500 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider owned 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, the executive vice president owned 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.63% of the company’s stock.

Institutional Trading of Vertiv

A number of hedge funds and other institutional investors have recently modified their holdings of VRT. OLD Point Trust & Financial Services N A acquired a new position in shares of Vertiv during the 2nd quarter worth approximately $32,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Vertiv by 780.0% in the second quarter. DiNuzzo Private Wealth Inc. now owns 264 shares of the company’s stock valued at $34,000 after buying an additional 234 shares in the last quarter. Garde Capital Inc. grew its stake in shares of Vertiv by 1,886.7% in the second quarter. Garde Capital Inc. now owns 298 shares of the company’s stock valued at $38,000 after buying an additional 283 shares in the last quarter. Colonial Trust Co SC increased its holdings in Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company’s stock worth $36,000 after buying an additional 214 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in Vertiv during the fourth quarter worth $37,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Trading Up 1.3%

The business’s 50 day simple moving average is $120.88 and its 200 day simple moving average is $104.63. The stock has a market cap of $55.09 billion, a price-to-earnings ratio of 84.04, a PEG ratio of 1.41 and a beta of 1.75. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.12. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm earned $0.67 EPS. Vertiv’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, research analysts expect that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. This is an increase from Vertiv’s previous dividend of $0.01. This represents a dividend yield of 0.14%. The ex-dividend date was Monday, June 16th. Vertiv’s payout ratio is currently 8.72%.

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.