Vertiv (NYSE:VRT) Given New $130.00 Price Target at Citigroup

Vertiv (NYSE:VRT - Get Free Report) had its price objective hoisted by analysts at Citigroup from $98.00 to $130.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 17.35% from the company's previous close.

A number of other brokerages also recently issued reports on VRT. JPMorgan Chase & Co. upped their price target on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Evercore ISI restated an "outperform" rating and issued a $150.00 price target (up previously from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. Barclays reduced their target price on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Roth Capital raised shares of Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Royal Bank of Canada began coverage on shares of Vertiv in a research note on Friday, March 7th. They set an "outperform" rating and a $121.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.69.

Vertiv Trading Down 3.2%

Shares of NYSE VRT opened at $110.78 on Monday. The stock has a market capitalization of $42.22 billion, a P/E ratio of 86.55, a PEG ratio of 1.07 and a beta of 1.73. The business's 50 day moving average is $94.49 and its two-hundred day moving average is $103.67. Vertiv has a 1-year low of $53.60 and a 1-year high of $155.84. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02.

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

Insiders Place Their Bets

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction on 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 completion of the transaction, the executive vice president now 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 accessible through the SEC website. Also, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated Friday, May 9th. The stock was 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 in the company, valued at $1,777,837.51. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Vertiv

Hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv in the fourth quarter valued at approximately $597,379,000. Norges Bank purchased a new position in shares of Vertiv during the 4th quarter worth $391,777,000. Amundi boosted its position in shares of Vertiv by 96.8% during the 1st quarter. Amundi now owns 6,951,773 shares of the company's stock valued at $469,490,000 after acquiring an additional 3,420,144 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Vertiv by 985.3% in the first quarter. 1832 Asset Management L.P. now owns 2,301,700 shares of the company's stock valued at $166,183,000 after purchasing an additional 2,089,612 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock worth $379,101,000 after purchasing an additional 1,928,275 shares during the period. Institutional investors and hedge funds 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.

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