Vertiv (NYSE:VRT) Announces Quarterly Earnings Results

Vertiv (NYSE:VRT) released its quarterly earnings results on Wednesday. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06, Briefing.com reports. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS.

Vertiv Trading Up 7.6 %

VRT traded up $6.46 during trading on Thursday, hitting $91.03. 9,795,384 shares of the stock were exchanged, compared to its average volume of 7,911,748. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. The firm has a 50 day simple moving average of $75.35 and a 200 day simple moving average of $56.87. The firm has a market cap of $34.77 billion, a price-to-earnings ratio of 75.42, a P/E/G ratio of 1.26 and a beta of 1.59. Vertiv has a 1 year low of $13.06 and a 1 year high of $94.39.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. Vertiv’s payout ratio is 8.47%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VRT shares. JPMorgan Chase & Co. lifted their price objective on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI increased their target price on Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer boosted their price target on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America raised their price objective on Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Citigroup increased their price objective on shares of Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.89.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is owned by insiders.

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.