Vertiv (NYSE:VRT) Given New $141.00 Price Target at Citigroup

Vertiv (NYSE:VRT) had its price objective raised by Citigroup from $134.00 to $141.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. TD Cowen boosted their price target on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Bank of America boosted their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Mizuho boosted their price target on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Oppenheimer boosted their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv presently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Performance

Shares of Vertiv stock opened at $140.94 on Tuesday. The company has a market capitalization of $52.90 billion, a PE ratio of 93.96, a P/E/G ratio of 1.31 and a beta of 1.58. 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 company has a 50-day simple moving average of $107.65 and a two-hundred day simple moving average of $94.27. Vertiv has a one year low of $41.01 and a one year high of $141.12.

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

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Hedge funds have recently bought and sold shares of the stock. Anchor Investment Management LLC purchased a new stake in Vertiv in the 2nd quarter worth approximately $26,000. Mather Group LLC. boosted its position in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in Vertiv in the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC purchased a new stake in Vertiv in the 3rd quarter worth approximately $30,000. Finally, Mark Sheptoff Financial Planning LLC raised its stake in shares of Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors 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.