Vertiv (NYSE:VRT) Shares Gap Down - Here's What Happened

Vertiv Holdings Co (NYSE:VRT - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $72.71, but opened at $69.18. Vertiv shares last traded at $70.54, with a volume of 1,139,475 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group decreased their target price on Vertiv from $135.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Barclays lowered their target price on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Citigroup cut their target price on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada started coverage on shares of Vertiv in a report on Friday, March 7th. They set an "outperform" rating and a $121.00 price objective for the company. Finally, Melius Research reaffirmed a "hold" rating and issued a $125.00 target price on shares of Vertiv in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.94.

Vertiv Stock Up 2.2 %

The company has a market cap of $27.89 billion, a P/E ratio of 57.22, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a 50-day simple moving average of $84.24 and a 200 day simple moving average of $108.55. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter last year, the business posted $0.56 earnings per share. On average, equities analysts anticipate that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv's dividend payout ratio is 11.72%.

Institutional Trading of Vertiv

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mezzasalma Advisors LLC increased its position in Vertiv by 11.2% during the 1st quarter. Mezzasalma Advisors LLC now owns 22,242 shares of the company's stock valued at $1,606,000 after purchasing an additional 2,234 shares during the period. Prosperity Wealth Management Inc. increased its holdings in Vertiv by 53.0% during the first quarter. Prosperity Wealth Management Inc. now owns 10,583 shares of the company's stock valued at $764,000 after buying an additional 3,665 shares during the period. Birch Hill Investment Advisors LLC bought a new position in Vertiv in the first quarter worth approximately $247,000. Rakuten Securities Inc. lifted its holdings in Vertiv by 56.4% during the first quarter. Rakuten Securities Inc. now owns 7,442 shares of the company's stock worth $537,000 after buying an additional 2,685 shares during the period. Finally, Chicago Capital LLC boosted its position in Vertiv by 4.1% during the 1st quarter. Chicago Capital LLC now owns 114,753 shares of the company's stock valued at $8,285,000 after acquiring an additional 4,467 shares in the last quarter. 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.