Vertiv (NYSE:VRT) Stock Price Up 1.5% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT)’s share price traded up 1.5% during mid-day trading on Thursday . The company traded as high as $90.74 and last traded at $90.54. 1,919,668 shares changed hands during trading, a decline of 77% from the average session volume of 8,524,882 shares. The stock had previously closed at $89.17.

Analysts Set New Price Targets

VRT has been the subject of a number of recent research reports. Melius Research reissued a “hold” rating and issued a $125.00 price objective on shares of Vertiv in a research note on Tuesday, January 28th. Evercore ISI dropped their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Melius downgraded Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Tuesday, January 28th. Citigroup raised their price objective on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Barclays cut their target price on Vertiv from $131.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $136.07.

Vertiv Stock Down 0.6 %

The company has a market cap of $33.73 billion, a PE ratio of 69.20, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $107.46 and its 200 day moving average is $110.91.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $0.56 EPS. As a group, analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, March 18th. Vertiv’s dividend payout ratio is 11.72%.

Hedge Funds Weigh In On Vertiv

Several institutional investors have recently made changes to their positions in VRT. Empowered Funds LLC raised its holdings in shares of Vertiv by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 5,498 shares of the company’s stock valued at $547,000 after purchasing an additional 335 shares in the last quarter. Caprock Group LLC purchased a new position in Vertiv during the third quarter valued at approximately $409,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Vertiv in the third quarter worth approximately $869,000. PNC Financial Services Group Inc. lifted its holdings in Vertiv by 10.2% during the third quarter. PNC Financial Services Group Inc. now owns 28,066 shares of the company’s stock worth $2,792,000 after buying an additional 2,604 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in Vertiv by 32.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,804 shares of the company’s stock valued at $478,000 after acquiring an additional 1,166 shares in the last quarter. Hedge funds and other 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.