Vertiv Holdings Co (NYSE:VRT) Declares Quarterly Dividend of $0.04

Vertiv Holdings Co (NYSE:VRT) announced a quarterly dividend on Monday, November 18th,RTT News reports. Shareholders of record on Tuesday, December 3rd will be given a dividend of 0.0375 per share on Thursday, December 19th. This represents a $0.15 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03.

Vertiv has increased its dividend by an average of 35.7% per year over the last three years. Vertiv has a dividend payout ratio of 4.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Vertiv to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 4.3%.

Vertiv Price Performance

NYSE:VRT opened at $140.94 on Wednesday. Vertiv has a one year low of $41.01 and a one year high of $141.12. 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 firm has a market cap of $52.90 billion, a price-to-earnings ratio of 93.96, a PEG ratio of 1.31 and a beta of 1.58. The firm’s fifty day moving average is $107.65 and its two-hundred day moving average is $94.27.

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

Insider Activity

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VRT. Evercore ISI increased their target price on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen increased their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup increased their target price on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Mizuho increased their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $138.50.

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.