Vertiv (NYSE:VRT) Price Target Raised to $155.00

Vertiv (NYSE:VRT) had its price objective raised by Citigroup from $141.00 to $155.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also commented on VRT. The Goldman Sachs Group boosted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Mizuho upped their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Bank of America lifted their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $139.90.

Vertiv Stock Performance

NYSE:VRT opened at $125.84 on Monday. The firm has a market cap of $47.23 billion, a price-to-earnings ratio of 83.89, a price-to-earnings-growth ratio of 1.38 and a beta of 1.61. The firm’s fifty day moving average price is $119.12 and its 200 day moving average price is $97.69. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv has a 1-year low of $44.31 and a 1-year high of $145.67.

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

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.12%. Vertiv’s payout ratio is presently 6.67%.

Insiders Place Their Bets

In related news, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan Van Dokkum sold 38,647 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $136.39, for a total value of $5,271,064.33. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at $3,409,750. The trade was a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock valued at $23,105,682 over the last quarter. Insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC raised its holdings in shares of Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after buying an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Vertiv during the 2nd quarter worth $331,091,000. Wellington Management Group LLP grew its stake in shares of Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Castle Hook Partners LP increased its holdings in shares of Vertiv by 215.6% during the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after purchasing an additional 1,273,746 shares during the period. Finally, Whale Rock Capital Management LLC bought a new stake in shares of Vertiv during the third quarter valued at about $110,517,000. 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.