Vertiv (NYSE:VRT) Price Target Raised to $132.00 at JPMorgan Chase & Co.

Vertiv (NYSE:VRT) had its target price raised by JPMorgan Chase & Co. from $124.00 to $132.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently issued reports on the company. Bank of America upped 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. Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Citigroup lifted their price objective on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI lifted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen lifted their price objective on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $138.50.

Vertiv Price Performance

NYSE VRT opened at $140.94 on Tuesday. The stock has a market capitalization of $52.90 billion, a P/E ratio of 93.96, a P/E/G ratio of 1.31 and a beta of 1.58. Vertiv has a 1 year low of $41.01 and a 1 year high of $141.12. The business’s fifty day moving average is $107.65 and its two-hundred day moving average is $94.27. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, research analysts forecast that Vertiv will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s payout ratio is currently 6.67%.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

Hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC acquired a new position in Vertiv during the second quarter worth $26,000. Mather Group LLC. increased its position in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in Vertiv during the third quarter worth $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the third quarter valued at about $30,000. Finally, Mark Sheptoff Financial Planning LLC grew its position in shares of Vertiv by 200.0% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. 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.