Vertiv (NYSE:VRT) Price Target Raised to $98.00 at Oppenheimer

Vertiv (NYSE:VRT) had its price target increased by Oppenheimer from $96.00 to $98.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

VRT has been the subject of a number of other reports. Evercore ISI upped their price target on Vertiv from $80.00 to $90.00 and gave the company an outperform rating in a research note on Friday, April 5th. Mizuho increased their target price on Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Citigroup increased their target price on Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a research note on Monday, April 8th. JPMorgan Chase & Co. increased their target price on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Bank of America increased their target price on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $81.11.

Vertiv Stock Performance

Shares of VRT stock opened at $93.49 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 market cap of $35.71 billion, a PE ratio of 89.89, a price-to-earnings-growth ratio of 1.49 and a beta of 1.59. The stock has a 50-day moving average of $76.51 and a 200-day moving average of $57.70. Vertiv has a one year low of $13.73 and a one year high of $95.32.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. Vertiv’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. As a group, sell-side analysts expect that Vertiv will post 2.38 earnings per share for the current year.

Vertiv Dividend Announcement

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

Insiders Place Their Bets

In other Vertiv 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Stephen Liang sold 306,196 shares of the 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 completion of the sale, the executive vice president now 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 at this link. Also, CAO Scott Cripps sold 56,594 shares of the stock in a transaction that occurred on 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. Insiders own 5.62% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several large investors have recently made changes to their positions in VRT. First Horizon Advisors Inc. lifted its holdings in Vertiv by 161.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock valued at $25,000 after purchasing an additional 409 shares during the last quarter. Bogart Wealth LLC acquired a new stake in Vertiv during the 1st quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in Vertiv during the 4th quarter valued at $26,000. Raleigh Capital Management Inc. lifted its holdings 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 acquired a new stake in Vertiv during the 1st quarter valued at $27,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.