Vertiv (NYSE:VRT) Hits New 1-Year High at $94.39

Vertiv Holdings Co (NYSE:VRT)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $94.39 and last traded at $90.88, with a volume of 8073047 shares changing hands. The stock had previously closed at $79.17.

Wall Street Analyst Weigh In

VRT has been the subject of several analyst reports. Citigroup raised their target price on Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Oppenheimer initiated coverage on shares of Vertiv in a research note on Friday, April 5th. They set an “outperform” rating and a $96.00 price objective on the stock. Evercore ISI increased their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Mizuho boosted their price target on shares of Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, Bank of America raised 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. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.56.

Vertiv Trading Up 8.5 %

The firm has a market cap of $32.80 billion, a PE ratio of 71.64, a PEG ratio of 1.21 and a beta of 1.59. The stock’s fifty day simple moving average is $74.96 and its two-hundred day simple moving average is $56.68. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts forecast that Vertiv Holdings Co will post 2.36 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.025 per share. The ex-dividend date was Monday, March 18th. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is currently 8.47%.

Insider Buying and Selling

In related news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by corporate insiders.

Institutional Trading of Vertiv

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in Vertiv by 182.4% during the 3rd quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after purchasing an additional 30,511,907 shares during the period. Norges Bank purchased a new stake in shares of Vertiv during the 4th quarter worth about $185,339,000. Vanguard Group Inc. boosted its position in Vertiv by 12.1% during the third quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock worth $1,176,590,000 after purchasing an additional 3,417,710 shares during the period. Coatue Management LLC lifted its holdings in shares of Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after buying an additional 2,249,353 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Vertiv by 1,032.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company’s stock valued at $84,031,000 after buying an additional 2,059,431 shares during the period. 89.92% of the stock is owned by hedge funds and other 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.