Vertiv (NYSE:VRT) Stock Price Up 3.5% After Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT) shares rose 3.5% during mid-day trading on Friday after Mizuho raised their price target on the stock from $56.00 to $95.00. Mizuho currently has a neutral rating on the stock. Vertiv traded as high as $95.32 and last traded at $93.47. Approximately 6,618,640 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 8,032,330 shares. The stock had previously closed at $90.35.

A number of other equities research analysts have also commented on VRT. Evercore ISI raised their price objective on Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer upped their price objective on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America lifted their target price on shares of Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Citigroup upped their price target on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, 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. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv has an average rating of “Moderate Buy” and an average price target of $81.11.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its position in Vertiv by 161.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock worth $25,000 after buying an additional 409 shares during the period. Bogart Wealth LLC acquired a new stake in shares of Vertiv in the first quarter worth $25,000. GAMMA Investing LLC bought a new position in Vertiv during the fourth quarter worth $26,000. Raleigh Capital Management Inc. raised its stake in Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares during the last quarter. Finally, Atticus Wealth Management LLC bought a new stake in Vertiv in the 1st quarter valued at $27,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Up 3.7 %

The firm’s 50-day simple moving average is $75.90 and its 200-day simple moving average is $57.10. 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 company has a market capitalization of $35.78 billion, a price-to-earnings ratio of 89.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.59.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Vertiv Holdings Co will post 2.31 earnings per share for the current year.

Vertiv Dividend Announcement

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

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.