Vertiv (NYSE:VRT) Trading 2.1% Higher - Still a Buy?

Vertiv Holdings Co. (NYSE:VRT - Get Free Report) shares rose 2.1% on Friday . The stock traded as high as $123.89 and last traded at $123.28. Approximately 2,801,164 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 8,598,848 shares. The stock had previously closed at $120.72.

Wall Street Analyst Weigh In

VRT has been the subject of several recent research reports. Barclays lifted their target price on shares of Vertiv from $90.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Melius upgraded shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 target price for the company in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Roth Mkm initiated coverage on shares of Vertiv in a report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price objective for the company. Finally, Citigroup upped their price target on shares of Vertiv from $98.00 to $130.00 and gave the company a "buy" rating in a report on Monday, June 16th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Vertiv currently has an average rating of "Buy" and a consensus target price of $134.24.

Vertiv Stock Up 2.2%

The stock's 50-day moving average price is $112.86 and its two-hundred day moving average price is $103.65. The stock has a market capitalization of $47.03 billion, a PE ratio of 71.75, a P/E/G ratio of 1.23 and a beta of 1.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $0.43 EPS. Vertiv's revenue for the quarter was up 24.2% on a year-over-year basis. As a group, analysts expect that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. The ex-dividend date was Monday, June 16th. This represents a yield of 0.14%. This is a boost from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio is currently 8.72%.

Insider Activity

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

Institutional Investors Weigh In On Vertiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRT. GW&K Investment Management LLC purchased a new stake in Vertiv during the 1st quarter valued at approximately $26,000. SouthState Corp bought a new stake in Vertiv in the first quarter worth $27,000. North Star Investment Management Corp. lifted its position in Vertiv by 4,120.0% in the first quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after buying an additional 412 shares during the last quarter. Sachetta LLC lifted its position in shares of Vertiv by 242.0% during the first quarter. Sachetta LLC now owns 448 shares of the company's stock worth $32,000 after purchasing an additional 317 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of Vertiv during the first quarter worth $33,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.