Bank of America Increases Vertiv (NYSE:VRT) Price Target to $130.00

Vertiv (NYSE:VRT) had its price target hoisted by Bank of America from $115.00 to $130.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently weighed in on VRT. The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. TD Cowen raised their target price on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI boosted their price target on Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $112.44.

Vertiv Stock Down 1.8 %

Vertiv stock opened at $112.26 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The stock has a market capitalization of $42.02 billion, a PE ratio of 107.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The business has a 50 day simple moving average of $90.31 and a 200-day simple moving average of $89.20. Vertiv has a 12 month low of $34.60 and a 12 month high of $116.19.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, analysts anticipate that Vertiv will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is currently 9.62%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the business’s 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 transaction, the insider now owns 10,542 shares of the company’s stock, 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 SEC, which can be accessed through this link. Corporate insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Vertiv by 296.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after acquiring an additional 9,870 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares during the last quarter. Swiss National Bank raised its position in Vertiv by 1.3% in the first quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock valued at $88,628,000 after purchasing an additional 14,100 shares during the period. Acadian Asset Management LLC raised its position in Vertiv by 1,019.3% in the first quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock valued at $326,000 after purchasing an additional 3,649 shares during the period. Finally, Covea Finance acquired a new position in Vertiv during the third quarter worth $3,870,000. Hedge funds and other 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.