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Vertiv (NYSE:VRT) Stock Price Down 2.1% - Here's Why

Vertiv logo with Computer and Technology background

Shares of Vertiv Holdings Co (NYSE:VRT - Get Free Report) traded down 2.1% during trading on Thursday . The stock traded as low as $119.61 and last traded at $121.96. 2,308,246 shares traded hands during trading, a decline of 72% from the average session volume of 8,168,933 shares. The stock had previously closed at $124.53.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VRT. The Goldman Sachs Group cut their price objective 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. UBS Group began coverage on Vertiv in a research note on Wednesday. They issued a "buy" rating and a $155.00 price objective on the stock. TD Cowen boosted their price objective on Vertiv from $93.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Evercore ISI lifted their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, Oppenheimer increased their price objective on shares of Vertiv from $115.00 to $121.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $125.40.

Read Our Latest Report on VRT

Vertiv Stock Performance

The firm has a market capitalization of $45.71 billion, a P/E ratio of 81.31, a P/E/G ratio of 1.34 and a beta of 1.58. 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 firm has a 50-day moving average price of $103.47 and a two-hundred day moving average price of $93.30.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $0.52 EPS. Vertiv's quarterly revenue was up 19.0% on a year-over-year basis. On average, analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. Vertiv's dividend payout ratio (DPR) is 6.67%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.01% of the company's stock.

Institutional Investors Weigh In On Vertiv

A number of large investors have recently modified their holdings of the business. Jennison Associates LLC grew its stake in shares of Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company's stock valued at $457,695,000 after buying an additional 4,558,306 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Vertiv during the second quarter worth about $331,091,000. Price T Rowe Associates Inc. MD boosted its stake in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company's stock worth $390,143,000 after buying an additional 3,591,903 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company's stock worth $2,745,930,000 after acquiring an additional 1,766,784 shares during the last quarter. Finally, Castle Hook Partners LP purchased a new position in shares of Vertiv during the 1st quarter worth approximately $135,987,000. 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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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