Vertiv (NYSE:VRT) Shares Up 3.9% - Here's What Happened

Vertiv Holdings Co (NYSE:VRT - Get Free Report) rose 3.9% during mid-day trading on Tuesday . The stock traded as high as $105.50 and last traded at $104.99. Approximately 2,840,374 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 8,990,026 shares. The stock had previously closed at $101.05.

Analysts Set New Price Targets

VRT has been the subject of several recent research reports. Melius downgraded Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price target for the company. in a report on Tuesday, January 28th. Cowen restated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Roth Capital upgraded Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Vertiv from $132.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada started coverage on Vertiv in a research note on Friday, March 7th. They set an "outperform" rating and a $121.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vertiv presently has a consensus rating of "Moderate Buy" and an average price target of $120.38.

Vertiv Stock Down 2.5%

The firm has a market capitalization of $40.70 billion, a price-to-earnings ratio of 83.55, a P/E/G ratio of 1.07 and a beta of 1.70. The stock has a 50 day moving average of $81.68 and a 200 day moving average of $106.15. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results 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 return on equity of 61.41% and a net margin of 6.19%. The business 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 earnings per share. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, analysts expect that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal 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 issued a $0.0375 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. Vertiv's dividend payout ratio is currently 8.72%.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider now owns 18,847 shares of the company's stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

A number of large investors have recently bought and sold shares of VRT. Barclays PLC lifted its holdings in Vertiv by 51.4% in the third quarter. Barclays PLC now owns 431,586 shares of the company's stock worth $42,940,000 after acquiring an additional 146,463 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Vertiv by 430.5% during the third quarter. Principal Financial Group Inc. now owns 165,557 shares of the company's stock valued at $16,471,000 after buying an additional 134,349 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Vertiv by 8.8% during the fourth quarter. Wedmont Private Capital now owns 2,268 shares of the company's stock valued at $258,000 after buying an additional 183 shares during the last quarter. Grassi Investment Management bought a new stake in shares of Vertiv during the fourth quarter valued at approximately $1,380,000. Finally, Pallas Capital Advisors LLC raised its holdings in shares of Vertiv by 4.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 5,377 shares of the company's stock valued at $611,000 after buying an additional 226 shares during the last quarter. Institutional investors own 89.92% of the company's stock.

Vertiv Company Profile

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.