Vertiv Holdings Co (NYSE:VRT – Get Free Report) shares shot up 1% during mid-day trading on Wednesday . The stock traded as high as $133.49 and last traded at $130.25. 1,422,961 shares changed hands during trading, a decline of 76% from the average session volume of 5,904,342 shares. The stock had previously closed at $128.95.
Wall Street Analysts Forecast Growth
VRT has been the subject of a number of analyst reports. Barclays assumed coverage on Vertiv in a research note on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. TD Cowen increased their price target on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research 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, Bank of America upped their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.75.
View Our Latest Stock Analysis on VRT
Vertiv Stock Performance
Vertiv (NYSE:VRT – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS 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 analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. During the same period last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.
Vertiv Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.11%. Vertiv’s payout ratio is presently 6.67%.
Insider Activity
In other news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,527 shares of company stock valued at $23,105,682. Company insiders own 5.01% of the company’s stock.
Hedge Funds Weigh In On Vertiv
Several institutional investors have recently added to or reduced their stakes in the business. Silverleafe Capital Partners LLC bought a new stake in shares of Vertiv in the 4th quarter valued at $4,219,000. Clearbridge Investments LLC increased its stake in Vertiv by 15.4% in the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after purchasing an additional 8,579 shares during the period. Janney Capital Management LLC bought a new position in shares of Vertiv during the 3rd quarter worth about $8,403,000. Finally, Gordian Capital Singapore Pte Ltd grew its stake in shares of Vertiv by 112.5% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock valued at $846,000 after buying an additional 4,500 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.
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.
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