Vertiv Holdings Co (NYSE:VRT) Raises Dividend to $0.04 Per Share

Vertiv Holdings Co (NYSE:VRT - Get Free Report) declared a quarterly dividend on Monday, November 18th,RTT News reports. Shareholders of record on Tuesday, December 3rd will be given a dividend of 0.0375 per share on Thursday, December 19th. This represents a $0.15 annualized dividend and a yield of 0.12%. This is a boost from Vertiv's previous quarterly dividend of $0.03.

Vertiv has increased its dividend payment by an average of 35.7% per year over the last three years. Vertiv has a payout ratio of 2.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Vertiv to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 2.9%.

Vertiv Stock Up 1.8 %

Shares of VRT stock traded up $2.15 on Monday, hitting $123.02. 7,552,309 shares of the stock were exchanged, compared to its average volume of 8,169,663. The business has a 50-day moving average of $105.37 and a 200 day moving average of $93.71. Vertiv has a fifty-two week low of $41.01 and a fifty-two week high of $130.30. The firm has a market capitalization of $46.17 billion, a P/E ratio of 83.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm's revenue was up 19.0% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. Equities analysts anticipate that Vertiv will post 2.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on VRT shares. Oppenheimer upped their price target on shares of Vertiv from $115.00 to $121.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. The Goldman Sachs Group decreased 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. Evercore ISI lifted their price objective on Vertiv from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Mizuho increased their target price on shares of Vertiv from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, TD Cowen upped their price objective on shares of Vertiv from $93.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv has a consensus rating of "Buy" and an average target price of $125.40.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.01% of the stock is owned by corporate insiders.

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.