Vertiv (NYSE:VRT) Shares Down 6.5% - Here's What Happened

Key Points

• Vertiv shares fell 6.5% to $268.83 during Tuesday trading, with volume rising 19% above the average. The stock’s market capitalization is approximately $103.3 billion.
• Analysts remain broadly bullish: Vertiv has a consensus “Moderate Buy” rating and an average price target of $343.48, with recent targets ranging from $350 to $416.
• Institutional investors own nearly 90% of Vertiv’s shares, while the company maintains a quarterly dividend of $0.0625, equivalent to a 0.1% annual yield.

Vertiv Holdings Co. (NYSE:VRT - Get Free Report) shares dropped 6.5% during trading on Tuesday . The stock traded as low as $259.19 and last traded at $268.83. Approximately 7,984,107 shares changed hands during trading, an increase of 19% from the average daily volume of 6,688,057 shares. The stock had previously closed at $287.60.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRT. Sanford C. Bernstein began coverage on Vertiv in a report on Tuesday, June 9th. They issued an "outperform" rating and a $416.00 target price on the stock. Oppenheimer raised their price target on Vertiv from $330.00 to $353.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. TD Cowen lifted their price objective on Vertiv from $347.00 to $387.00 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. upped their price objective on Vertiv from $305.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Finally, Roth Capital reiterated a "buy" rating and set a $355.00 target price on shares of Vertiv in a research report on Thursday, May 21st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $343.48.

Vertiv Trading Down 6.5%

The stock has a market cap of $103.26 billion, a P/E ratio of 67.55, a P/E/G ratio of 1.25 and a beta of 2.03. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.15 and a current ratio of 1.49. The stock's fifty day moving average is $312.19 and its 200 day moving average is $275.53.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th. Vertiv's dividend payout ratio (DPR) is presently 6.28%.

Hedge Funds Weigh In On Vertiv

A number of institutional investors and hedge funds have recently modified their holdings of VRT. Lingotto Investment Management LLP bought a new position in shares of Vertiv during the fourth quarter valued at approximately $2,641,000. Norges Bank purchased a new position in Vertiv during the 4th quarter valued at $808,701,000. Sterling Investment Advisors Ltd. grew its position in Vertiv by 26.1% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 22,476 shares of the company's stock valued at $3,641,000 after acquiring an additional 4,645 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. purchased a new stake in Vertiv in the fourth quarter worth $2,197,000. Finally, WD Rutherford LLC increased its stake in Vertiv by 80.7% in the fourth quarter. WD Rutherford LLC now owns 15,081 shares of the company's stock worth $2,443,000 after purchasing an additional 6,734 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Vertiv Company Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company's product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.

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