Vertiv (NYSE:VRT) Stock Price Up 11.7%

Vertiv Holdings Co (NYSE:VRT)’s share price was up 11.7% on Wednesday . The stock traded as high as $94.39 and last traded at $88.45. Approximately 12,267,756 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 7,676,429 shares. The stock had previously closed at $79.17.

Analysts Set New Price Targets

Several research analysts have weighed in on VRT shares. JPMorgan Chase & Co. increased their price target on shares of Vertiv from $65.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Mizuho raised their target price on shares of Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Citigroup raised their target price on shares of Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Bank of America raised their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Evercore ISI increased their price target 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.56.

Vertiv Price Performance

The company’s 50 day moving average price is $74.96 and its 200-day moving average price is $56.68. The stock has a market cap of $32.30 billion, a P/E ratio of 71.64, a P/E/G ratio of 1.21 and a beta of 1.59. 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 released its quarterly 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. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, sell-side analysts expect that Vertiv Holdings Co will post 2.36 earnings per share for the current year.

Vertiv Dividend Announcement

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

Insider Activity

In related news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction 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. Insiders own 5.62% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in Vertiv by 182.4% in the third 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 in the last quarter. Vanguard Group Inc. increased its stake in Vertiv by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 31,855,473 shares of the company’s stock valued at $1,530,018,000 after purchasing an additional 226,716 shares in the last quarter. Coatue Management LLC increased its stake in Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares in the last quarter. Invesco Ltd. increased its stake in Vertiv by 10.2% in the third quarter. Invesco Ltd. now owns 10,817,978 shares of the company’s stock valued at $402,429,000 after purchasing an additional 1,002,191 shares in the last quarter. Finally, Norges Bank bought a new stake in Vertiv in the fourth quarter valued at $185,339,000. Institutional investors own 89.92% of the company’s stock.

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.