Vertiv (NYSE:VRT) Shares Gap Down to $104.60

Vertiv Holdings Co (NYSE:VRT - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $104.60, but opened at $102.47. Vertiv shares last traded at $100.94, with a volume of 2,944,042 shares trading hands.

Analysts Set New Price Targets

VRT has been the topic of a number of research reports. Mizuho lifted their price target on shares of Vertiv from $56.00 to $95.00 and gave the stock a "neutral" rating in a report on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, April 25th. Citigroup lifted their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, April 25th. Bank of America increased their target price on Vertiv from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Evercore ISI increased their price target on shares of Vertiv from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.89.

Vertiv Price Performance

The company has a market capitalization of $36.43 billion, a P/E ratio of 93.57, a P/E/G ratio of 1.43 and a beta of 1.55. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09. The business's fifty day moving average price is $84.68 and its 200-day moving average price is $63.01.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. As a group, sell-side analysts predict that Vertiv Holdings Co will post 2.42 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a $0.025 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.10%. Vertiv's payout ratio is 9.62%.

Insider Activity

In other Vertiv news, insider Yibin Edward Cui sold 668 shares of the business's stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the sale, the insider now directly owns 19,452 shares of the company's stock, valued at $1,836,074.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction that occurred on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,409,664 shares of company stock valued at $310,846,212. Corporate insiders own 5.62% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new stake in Vertiv during the 3rd quarter valued at $2,241,000. Raymond James & Associates grew its stake in shares of Vertiv by 255.0% in the third quarter. Raymond James & Associates now owns 67,375 shares of the company's stock worth $2,506,000 after purchasing an additional 48,396 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Vertiv by 71.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,165 shares of the company's stock worth $899,000 after purchasing an additional 10,031 shares during the last quarter. New York State Teachers Retirement System bought a new position in Vertiv during the 3rd quarter valued at approximately $1,059,000. Finally, Mackenzie Financial Corp purchased a new stake in Vertiv in the 3rd quarter worth approximately $669,000. 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.