Vertiv Holdings Co (NYSE:VRT) Declares Dividend Increase - $0.04 Per Share

Vertiv Holdings Co (NYSE:VRT - Get Free Report) declared a dividend on Saturday, June 14th, investing.com reports. Stockholders of record on Tuesday, June 17th will be given a dividend of 0.0375 per share on Thursday, June 26th. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend is Monday, June 16th. This is a 275.0% increase from Vertiv's previous dividend of $0.01.

Vertiv has a dividend payout ratio of 3.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Vertiv to earn $4.46 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 3.4%.

Vertiv Price Performance

Shares of VRT stock traded up $0.34 during mid-day trading on Tuesday, hitting $116.79. The company had a trading volume of 6,069,701 shares, compared to its average volume of 8,698,806. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The company has a market capitalization of $44.51 billion, a P/E ratio of 91.24, a P/E/G ratio of 1.07 and a beta of 1.73. Vertiv has a 52-week low of $53.60 and a 52-week high of $155.84. The stock's 50 day moving average price is $95.56 and its 200-day moving average price is $103.60.

Vertiv (NYSE:VRT - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The business's revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the business earned $0.43 EPS. Equities research analysts forecast that Vertiv will post 3.59 earnings per share for the current year.

Insider Activity at Vertiv

In other news, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president now directly owns 9,551 shares of the company's stock, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the sale, the insider now owns 18,847 shares of the company's stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

A hedge fund recently raised its stake in Vertiv stock. Empowered Funds LLC lifted its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,557 shares of the company's stock after acquiring an additional 2,377 shares during the quarter. Empowered Funds LLC's holdings in Vertiv were worth $834,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 89.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VRT shares. Morgan Stanley cut their price target on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group increased their price target on Vertiv from $106.00 to $122.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Cowen restated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Royal Bank of Canada assumed coverage on Vertiv in a research report on Friday, March 7th. They set an "outperform" rating and a $121.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertiv currently has an average rating of "Moderate Buy" and an average price target of $126.69.

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.