Vertiv (NYSE:VRT) Trading 2.7% Higher - Here's What Happened

Vertiv Holdings Co. (NYSE:VRT - Get Free Report) shares traded up 2.7% during mid-day trading on Friday . The company traded as high as $128.08 and last traded at $127.09. 2,185,202 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,600,139 shares. The stock had previously closed at $123.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VRT shares. KGI Securities initiated coverage on shares of Vertiv in a research note on Thursday, April 24th. They issued a "hold" rating on the stock. Wall Street Zen raised Vertiv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Roth Capital upgraded Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. The Goldman Sachs Group raised their price target on shares of Vertiv from $106.00 to $122.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Roth Mkm initiated coverage on shares of Vertiv in a research note on Tuesday, April 8th. They issued a "buy" rating and a $75.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Vertiv currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.69.

Vertiv Trading Up 3.2%

The company's 50-day simple moving average is $103.31 and its 200 day simple moving average is $103.39. 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 market capitalization of $48.69 billion, a PE ratio of 74.25, a price-to-earnings-growth ratio of 1.22 and a beta of 1.73.

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

Vertiv Increases Dividend

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

Insider Transactions at Vertiv

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was 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 now directly owns 9,551 shares of the company's stock, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Karsten Winther sold 5,500 shares of the firm'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 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. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.63% of the company's stock.

Institutional Trading of Vertiv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC increased its stake in shares of Vertiv by 2.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock valued at $420,000 after purchasing an additional 85 shares in the last quarter. Horizon Investment Services LLC grew its holdings in Vertiv by 4.1% in the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock valued at $274,000 after purchasing an additional 95 shares during the period. Focus Partners Advisor Solutions LLC increased its position in shares of Vertiv by 3.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after buying an additional 97 shares in the last quarter. Utah Retirement Systems raised its stake in shares of Vertiv by 0.3% during the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock worth $4,465,000 after buying an additional 100 shares during the period. Finally, Wahed Invest LLC lifted its position in shares of Vertiv by 1.2% during the 4th quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock valued at $1,000,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds 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.

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