Vertiv (NYSE:VRT) Trading Up 2.8% - Here's What Happened

Vertiv Holdings Co. (NYSE:VRT - Get Free Report) rose 2.8% on Wednesday . The company traded as high as $126.47 and last traded at $126.02. Approximately 1,818,697 shares traded hands during trading, a decline of 79% from the average daily volume of 8,537,602 shares. The stock had previously closed at $122.54.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VRT shares. Morgan Stanley decreased their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Barclays reduced their price target on Vertiv from $100.00 to $90.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Roth Capital upgraded Vertiv to a "strong-buy" rating in a report on Monday, April 7th. JPMorgan Chase & Co. boosted their price target on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group boosted their price target on Vertiv from $106.00 to $122.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.69.

Vertiv Stock Up 1.4%

The stock has a 50 day simple moving average of $107.55 and a 200-day simple moving average of $103.42. The firm has a market cap of $47.37 billion, a PE ratio of 72.27, a PEG ratio of 1.22 and a beta of 1.75. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. Sell-side analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The business also recently disclosed 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. This is a boost from Vertiv's previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 0.14%. Vertiv's payout ratio is presently 8.72%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider directly owned 18,847 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction that occurred 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 directly owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company's stock.

Hedge Funds Weigh In On Vertiv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Colonial Trust Co SC lifted its position in Vertiv by 211.9% in the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Vertiv during the 4th quarter valued at $37,000. GW&K Investment Management LLC bought a new position in shares of Vertiv during the 1st quarter valued at $26,000. TD Private Client Wealth LLC lifted its holdings in shares of Vertiv by 150.7% during the 4th quarter. TD Private Client Wealth LLC now owns 371 shares of the company's stock valued at $42,000 after buying an additional 223 shares during the period. Finally, SouthState Corp bought a new position in shares of Vertiv during the 1st quarter valued at $27,000. 89.92% of the stock is owned by 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.