Vertiv (NYSE:VRT) Shares Up 2.9% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT) shares were up 2.9% on Wednesday . The stock traded as high as $87.70 and last traded at $87.09. Approximately 1,670,637 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 8,546,230 shares. The stock had previously closed at $84.66.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore ISI reduced their price objective on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Barclays decreased their price objective on shares of Vertiv from $131.00 to $111.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Citigroup lifted their target price on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Melius Research reiterated a “hold” rating and issued a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. Finally, Royal Bank of Canada began coverage on Vertiv in a research note on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Vertiv has an average rating of “Moderate Buy” and a consensus target price of $136.07.

Vertiv Stock Down 2.4 %

The stock has a market capitalization of $33.11 billion, a price-to-earnings ratio of 67.94, a PEG ratio of 1.07 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The firm’s fifty day moving average is $108.26 and its 200-day moving average is $110.87.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter in the prior year, the firm posted $0.56 EPS. On average, sell-side analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 11.72%.

Hedge Funds Weigh In On Vertiv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its stake in shares of Vertiv by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 13,461 shares of the company’s stock worth $1,339,000 after purchasing an additional 691 shares during the last quarter. Empowered Funds LLC increased its stake in Vertiv by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 5,498 shares of the company’s stock worth $547,000 after purchasing an additional 335 shares in the last quarter. Natixis Advisors LLC raised its holdings in Vertiv by 59.2% during the 3rd quarter. Natixis Advisors LLC now owns 128,451 shares of the company’s stock worth $12,779,000 after buying an additional 47,748 shares during the period. Caprock Group LLC purchased a new stake in shares of Vertiv in the 3rd quarter valued at approximately $409,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Vertiv in the 3rd quarter worth approximately $869,000. 89.92% of the stock is owned by institutional investors.

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.