Vertiv (NYSE:VRT) Given New $95.00 Price Target at Evercore ISI

Vertiv (NYSE:VRT) had its target price upped by Evercore ISI from $90.00 to $95.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

VRT has been the topic of several other research reports. Bank of America raised their price target on Vertiv from $80.00 to $90.00 and gave the company a buy rating in a report on Monday, March 18th. JPMorgan Chase & Co. raised their price target on Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a report on Thursday. Citigroup raised their price target on Vertiv from $69.00 to $102.00 and gave the company a buy rating in a report on Monday, April 8th. Oppenheimer raised their target price on Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a report on Thursday. Finally, Mizuho raised their target price on Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $76.78.

Vertiv Stock Performance

Vertiv stock opened at $90.35 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The stock has a fifty day moving average price of $75.90 and a two-hundred day moving average price of $57.10. Vertiv has a 52-week low of $13.06 and a 52-week high of $94.39. The firm has a market capitalization of $34.51 billion, a P/E ratio of 86.88, a P/E/G ratio of 1.37 and a beta of 1.59.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Vertiv will post 2.31 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred 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 sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Vertiv by 182.4% in the 3rd quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after buying an additional 30,511,907 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Vertiv by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 31,855,473 shares of the company’s stock worth $1,530,018,000 after buying an additional 226,716 shares during the last quarter. Coatue Management LLC lifted its position in shares of Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after buying an additional 2,249,353 shares during the last quarter. Invesco Ltd. lifted its position in shares of Vertiv by 10.2% during the 3rd quarter. Invesco Ltd. now owns 10,817,978 shares of the company’s stock worth $402,429,000 after buying an additional 1,002,191 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Vertiv during the 4th quarter worth $185,339,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Company Profile

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.