Vertiv (NYSE:VRT) Stock Price Down 0.1% - Here's What Happened

Shares of Vertiv Holdings Co (NYSE:VRT - Get Free Report) traded down 0.1% on Wednesday . The stock traded as low as $91.84 and last traded at $93.43. 1,911,018 shares were traded during trading, a decline of 79% from the average session volume of 8,964,629 shares. The stock had previously closed at $93.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, January 17th. Citigroup reduced their price target on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Cowen reiterated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Roth Capital raised Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Finally, Royal Bank of Canada assumed coverage on Vertiv in a research report on Friday, March 7th. They set an "outperform" rating and a $121.00 price target for the company. Five investment 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 company's stock. Based on data from MarketBeat.com, Vertiv currently has a consensus rating of "Moderate Buy" and an average price target of $120.38.

Vertiv Stock Down 1.6 %

The stock has a market capitalization of $35.89 billion, a price-to-earnings ratio of 73.57, a P/E/G ratio of 1.07 and a beta of 1.70. The business has a 50-day moving average of $80.47 and a 200-day moving average of $106.26. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results 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. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $0.43 EPS. The business's revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.16%. Vertiv's dividend payout ratio is presently 8.72%.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.63% of the company's stock.

Institutional Investors Weigh In On Vertiv

Several large investors have recently bought and sold shares of the stock. SOA Wealth Advisors LLC. purchased a new position in Vertiv in the fourth quarter worth approximately $26,000. GW&K Investment Management LLC acquired a new position in shares of Vertiv during the 1st quarter worth about $26,000. OLD Second National Bank of Aurora acquired a new position in shares of Vertiv in the 4th quarter valued at $30,000. North Star Investment Management Corp. grew its stake in Vertiv by 4,120.0% during the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after buying an additional 412 shares during the last quarter. Finally, Sachetta LLC increased its stake in Vertiv by 242.0% in the first quarter. Sachetta LLC now owns 448 shares of the company's stock valued at $32,000 after purchasing an additional 317 shares during the period. Hedge funds and other 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.