Vertiv (NYSE:VRT) Shares Up 4.5%

Vertiv Holdings Co (NYSE:VRT - Get Free Report)'s stock price was up 4.5% during trading on Thursday . The company traded as high as $93.62 and last traded at $91.57. Approximately 3,402,189 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 8,510,436 shares. The stock had previously closed at $87.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRT shares. Evercore ISI reissued an "outperform" rating and issued a $105.00 price target on shares of Vertiv in a report on Thursday, August 15th. The Goldman Sachs Group dropped their price target on shares of Vertiv from $116.00 to $104.00 and set a "buy" rating for the company in a research report on Thursday, July 25th. TD Cowen raised their target price on shares of Vertiv from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Finally, Mizuho raised shares of Vertiv from a "neutral" rating to an "outperform" rating and dropped their target price for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $102.13.

Vertiv Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $34.46 billion, a PE ratio of 88.52, a PEG ratio of 1.08 and a beta of 1.58. The firm's fifty day simple moving average is $79.39 and its 200-day simple moving average is $85.09.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The firm's quarterly revenue was up 12.6% on a year-over-year basis. On average, research analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv's payout ratio is 9.62%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vertiv

A number of hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Vertiv by 24.7% during the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company's stock worth $41,000 after acquiring an additional 170 shares during the last quarter. Norges Bank purchased a new position in Vertiv in the 4th quarter worth about $185,339,000. PNC Financial Services Group Inc. increased its stake in Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company's stock worth $634,000 after buying an additional 9,870 shares during the period. Franklin Resources Inc. bought a new position in Vertiv during the 4th quarter worth about $1,406,000. Finally, Aigen Investment Management LP bought a new position in Vertiv during the 4th quarter worth about $454,000. 89.92% of the stock is currently owned by institutional investors.

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.