Vertiv (NYSE:VRT) Stock Price Up 1.8% on Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT - Get Free Report) shares rose 1.8% during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $106.00 to $122.00. The Goldman Sachs Group currently has a buy rating on the stock. Vertiv traded as high as $110.61 and last traded at $110.47. Approximately 1,375,014 shares changed hands during trading, a decline of 84% from the average daily volume of 8,713,347 shares. The stock had previously closed at $108.47.

A number of other research analysts have also weighed in on the stock. Citigroup decreased their price target on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. raised their target price on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. KGI Securities initiated coverage on Vertiv in a report on Thursday, April 24th. They issued a "hold" rating on the stock. Royal Bank of Canada initiated coverage on Vertiv in a report on Friday, March 7th. They issued an "outperform" rating and a $121.00 price objective on the stock. Finally, Cowen restated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Vertiv has an average rating of "Moderate Buy" and a consensus target price of $124.69.

Insider Activity

In related news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 9,551 shares in the company, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the sale, the insider now owns 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% 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.

Institutional Investors Weigh In On Vertiv

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv during the 4th quarter worth approximately $597,379,000. Norges Bank purchased a new position in Vertiv in the fourth quarter valued at approximately $391,777,000. Amundi grew its position in shares of Vertiv by 96.8% in the 1st quarter. Amundi now owns 6,951,773 shares of the company's stock valued at $469,490,000 after buying an additional 3,420,144 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Vertiv by 985.3% during the 1st quarter. 1832 Asset Management L.P. now owns 2,301,700 shares of the company's stock worth $166,183,000 after buying an additional 2,089,612 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock worth $379,101,000 after acquiring an additional 1,928,275 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Price Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The company's 50-day simple moving average is $92.52 and its 200-day simple moving average is $104.26. The company has a market capitalization of $43.46 billion, a PE ratio of 89.09, a P/E/G ratio of 1.07 and a beta of 1.73.

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, 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 firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $0.43 earnings per share. The business's revenue was up 24.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

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.