Vertiv Holdings Co (NYSE:VRT - Get Free Report)'s share price reached a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as $131.33 and last traded at $131.12, with a volume of 2929031 shares traded. The stock had previously closed at $123.02.
The newly announced dividend which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This is a boost from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. Vertiv's dividend payout ratio (DPR) is 6.67%.
Analyst Ratings Changes
VRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Vertiv from $124.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday. TD Cowen raised their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a "buy" rating in a research report on Tuesday. Oppenheimer upped their price target on shares of Vertiv from $121.00 to $131.00 and gave the stock an "outperform" rating in a research report on Tuesday. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They set a "buy" rating and a $125.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $138.50.
Get Our Latest Stock Analysis on Vertiv
Vertiv Trading Up 14.6 %
The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock has a market capitalization of $52.90 billion, a price-to-earnings ratio of 93.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The business has a fifty day moving average of $107.65 and a 200-day moving average of $94.27.
Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company's revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. On average, equities analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Karsten Winther sold 44,924 shares of the firm'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 approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.01% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Vertiv
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC purchased a new stake in shares of Vertiv during the second quarter worth $26,000. Mather Group LLC. increased its position in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the 3rd quarter worth about $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv during the 3rd quarter valued at about $30,000. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in Vertiv by 200.0% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company's stock worth $30,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.
About Vertiv
(
Get Free Report)
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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