Vertiv (NYSE:VRT) Shares Gap Up After Earnings Beat

Shares of Vertiv Holdings Co (NYSE:VRT - Get Free Report) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $71.82, but opened at $85.48. Vertiv shares last traded at $81.72, with a volume of 6,782,361 shares changing hands.

The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.17%. Vertiv's payout ratio is presently 8.72%.

Wall Street Analyst Weigh In

VRT has been the topic of a number of recent analyst reports. Melius Research reiterated a "hold" rating and issued a $125.00 target price on shares of Vertiv in a research note on Tuesday, January 28th. KGI Securities assumed coverage on shares of Vertiv in a research report on Thursday. They issued a "hold" rating for the company. Barclays decreased their price target on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Roth Capital raised Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Fox Advisors started coverage on Vertiv in a research report on Monday, January 6th. They set an "equal weight" rating on the stock. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $120.38.

Institutional Investors Weigh In On Vertiv

Large investors have recently modified their holdings of the business. Fifth Third Bancorp grew its position in Vertiv by 8.1% during the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company's stock worth $128,000 after purchasing an additional 84 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in shares of Vertiv by 2.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock valued at $420,000 after acquiring an additional 85 shares during the period. Accurate Wealth Management LLC raised its stake in Vertiv by 4.1% in the 4th quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company's stock worth $254,000 after acquiring an additional 87 shares during the last quarter. Horizon Investment Services LLC grew its stake in Vertiv by 4.1% during the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock valued at $274,000 after purchasing an additional 95 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its holdings in shares of Vertiv by 3.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after purchasing an additional 97 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Vertiv Stock Performance

The firm has a 50 day moving average price of $81.05 and a 200-day moving average price of $107.57. The stock has a market capitalization of $33.15 billion, a PE ratio of 68.02, a PEG ratio of 1.07 and a beta of 1.71. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19.

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.