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

Shares of Vertiv Holdings Co (NYSE:VRT) gapped up before the market opened on Wednesday . The stock had previously closed at $91.90, but opened at $100.66. Vertiv shares last traded at $98.88, with a volume of 5,438,022 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VRT shares. UBS Group began coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Melius Research reiterated a “hold” rating and issued a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. TD Cowen raised their price objective on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley started coverage on Vertiv in a report on Monday, January 6th. They set an “overweight” rating and a $150.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Vertiv has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Vertiv Trading Up 8.4 %

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The stock has a market capitalization of $37.39 billion, a price-to-earnings ratio of 78.01, a price-to-earnings-growth ratio of 1.07 and a beta of 1.64. The business has a fifty day simple moving average of $119.62 and a 200 day simple moving average of $110.33.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, research analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current year.

Institutional Investors Weigh In On Vertiv

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Vertiv by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares during the period. Jennison Associates LLC grew its stake in Vertiv by 68.6% during the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after buying an additional 3,153,932 shares in the last quarter. State Street Corp increased its holdings in Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after buying an additional 308,704 shares during the period. Geode Capital Management LLC raised its position in shares of Vertiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company’s stock valued at $688,260,000 after buying an additional 99,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv during the 4th quarter worth approximately $597,379,000. Institutional investors and hedge funds 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.