Vertiv (NYSE:VRT) Shares Down 0.8% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT) dropped 0.8% during mid-day trading on Monday . The stock traded as low as $123.59 and last traded at $124.72. Approximately 1,534,972 shares were traded during trading, a decline of 81% from the average daily volume of 8,103,716 shares. The stock had previously closed at $125.78.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRT. Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Bank of America raised their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays began coverage on shares of Vertiv in a research report on Thursday. They set an “equal weight” rating and a $142.00 price target on the stock. Finally, Oppenheimer raised their price objective on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.09.

Vertiv Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a market capitalization of $47.28 billion, a P/E ratio of 83.15, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61. The firm has a 50 day moving average price of $120.45 and a two-hundred day moving average price of $98.12.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue was up 19.0% on a year-over-year basis. On average, equities research analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Buying and Selling at Vertiv

In other news, Director Jan Van Dokkum sold 38,647 shares of Vertiv stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the completion of the sale, the director now directly owns 25,000 shares in the company, valued at $3,409,750. The trade was a 60.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock valued at $23,105,682 in the last 90 days. 5.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after acquiring an additional 4,558,306 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Vertiv during the 2nd quarter valued at approximately $331,091,000. Wellington Management Group LLP grew its holdings in Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after buying an additional 2,860,181 shares during the last quarter. Castle Hook Partners LP increased its position in Vertiv by 215.6% in the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after buying an additional 1,273,746 shares during the period. Finally, Whale Rock Capital Management LLC bought a new position in Vertiv in the 3rd quarter worth approximately $110,517,000. 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.