Vertiv (NYSE:VRT) Stock Price Down 1.9% - Here's Why

Shares of Vertiv Holdings Co. (NYSE:VRT - Get Free Report) fell 1.9% during mid-day trading on Monday . The stock traded as low as $115.20 and last traded at $116.29. 2,251,464 shares were traded during mid-day trading, a decline of 74% from the average session volume of 8,621,166 shares. The stock had previously closed at $118.54.

Analyst Ratings Changes

VRT has been the subject of a number of recent research reports. Citigroup upped their price objective on shares of Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Roth Mkm started coverage on Vertiv in a research note on Tuesday, April 8th. They set a "buy" rating and a $75.00 price target for the company. Evercore ISI reissued an "outperform" rating and set a $150.00 price objective (up previously from $100.00) on shares of Vertiv in a report on Tuesday, May 27th. Roth Capital upgraded Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Finally, Barclays decreased their target price on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $126.69.

Vertiv Stock Performance

The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average of $99.40 and a 200 day moving average of $103.27. The stock has a market capitalization of $44.35 billion, a P/E ratio of 67.67, a PEG ratio of 1.19 and a beta of 1.73.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $0.43 EPS. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. Research analysts anticipate 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 will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th will be issued a $0.0375 dividend. The ex-dividend date is Monday, June 16th. This is a boost from Vertiv's previous dividend of $0.01. This represents a dividend yield of 0.14%. Vertiv's dividend payout ratio is presently 8.72%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider now directly owns 18,847 shares in the company, valued at $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 available at the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 9,551 shares in the company, valued at approximately $1,106,292.33. This represents a 82.06% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Vertiv

A number of institutional investors and hedge funds have recently made changes to their positions in VRT. Guinness Asset Management LTD bought a new position in Vertiv in the first quarter valued at approximately $304,000. Stanley Capital Management LLC grew its stake in shares of Vertiv by 13.1% during the first quarter. Stanley Capital Management LLC now owns 259,000 shares of the company's stock worth $18,700,000 after purchasing an additional 30,000 shares during the period. Nicola Wealth Management LTD. bought a new stake in Vertiv in the first quarter valued at about $1,155,000. First Hawaiian Bank lifted its stake in Vertiv by 17.3% in the first quarter. First Hawaiian Bank now owns 4,045 shares of the company's stock valued at $292,000 after buying an additional 598 shares during the period. Finally, Inspire Investing LLC lifted its stake in Vertiv by 79.1% in the first quarter. Inspire Investing LLC now owns 12,831 shares of the company's stock valued at $926,000 after buying an additional 5,665 shares during the period. 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.

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