Vertiv (NYSE:VRT) Trading 2.9% Higher - Here's What Happened

Vertiv Holdings Co (NYSE:VRT - Get Free Report) shares were up 2.9% during mid-day trading on Friday . The company traded as high as $87.86 and last traded at $86.30. Approximately 5,344,314 shares changed hands during trading, a decline of 41% from the average daily volume of 9,027,624 shares. The stock had previously closed at $83.88.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VRT shares. KGI Securities began coverage on shares of Vertiv in a report on Thursday. They issued a "hold" rating on the stock. The Goldman Sachs Group lowered their price target on shares of Vertiv from $135.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Melius Research reaffirmed a "hold" rating and set a $125.00 price target on shares of Vertiv in a research report on Tuesday, January 28th. Morgan Stanley decreased their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Melius cut Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price target for the company. in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $120.38.

Vertiv Stock Performance

The stock has a market cap of $32.80 billion, a price-to-earnings ratio of 67.30, a P/E/G ratio of 1.07 and a beta of 1.71. The firm's 50-day moving average is $80.62 and its two-hundred day moving average is $107.39. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 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 61.41% and a net margin of 6.19%. The business's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, sell-side analysts expect that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.17%. Vertiv's dividend payout ratio (DPR) is presently 8.72%.

Institutional Investors Weigh In On Vertiv

A number of hedge funds have recently modified their holdings of VRT. SOA Wealth Advisors LLC. purchased a new stake in Vertiv during the 4th quarter valued at about $26,000. OLD Second National Bank of Aurora purchased a new stake in shares of Vertiv in the fourth quarter valued at approximately $30,000. North Star Investment Management Corp. increased its holdings in shares of Vertiv by 4,120.0% in the first quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock valued at $30,000 after purchasing an additional 412 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of Vertiv by 61.3% in the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock valued at $33,000 after purchasing an additional 111 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Vertiv during the fourth quarter worth approximately $34,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

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.