Vertiv Holdings Co (NYSE:VRT) to Issue Quarterly Dividend of $0.04

Vertiv Holdings Co (NYSE:VRT) announced a quarterly dividend on Monday, November 18th,RTT News reports. Shareholders of record on Tuesday, December 3rd will be given a dividend of 0.0375 per share on Thursday, December 19th. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03.

Vertiv has raised its dividend by an average of 35.7% per year over the last three years. Vertiv has a dividend payout ratio of 4.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Vertiv to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 4.3%.

Vertiv Stock Performance

VRT opened at $123.05 on Tuesday. The business’s 50-day moving average price is $106.34 and its two-hundred day moving average price is $93.93. Vertiv has a 1 year low of $41.01 and a 1 year high of $130.30. The company has a market capitalization of $46.19 billion, a price-to-earnings ratio of 82.03, a P/E/G ratio of 1.31 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts expect that Vertiv will post 2.69 EPS for the current fiscal year.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on VRT shares. UBS Group initiated coverage on Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target on the stock. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. The Goldman Sachs Group lowered their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Bank of America lifted their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Oppenheimer lifted their target price on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $126.40.

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.