Vertiv (NYSE:VRT) Stock Price Down 3.4% on Analyst Downgrade

Vertiv Holdings Co (NYSE:VRT - Get Free Report)'s share price was down 3.4% during mid-day trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $135.00 to $85.00. The Goldman Sachs Group currently has a buy rating on the stock. Vertiv traded as low as $66.95 and last traded at $70.36. Approximately 3,772,126 shares were traded during trading, a decline of 58% from the average daily volume of 8,981,050 shares. The stock had previously closed at $72.82.

Several other research analysts have also recently weighed in on VRT. Fox Advisors started coverage on shares of Vertiv in a research note on Monday, January 6th. They set an "equal weight" rating on the stock. Royal Bank of Canada assumed coverage on Vertiv in a research report on Friday, March 7th. They set an "outperform" rating and a $121.00 target price on the stock. Barclays reduced their price target on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. JPMorgan Chase & Co. lowered their price objective on Vertiv from $132.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Roth Mkm initiated coverage on shares of Vertiv in a research note on Tuesday, April 8th. They set a "buy" rating and a $75.00 target price on the stock. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.50.

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Hedge Funds Weigh In On Vertiv

Institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in Vertiv in the fourth quarter worth $597,379,000. Norges Bank purchased a new position in Vertiv in the fourth quarter worth about $391,777,000. Jennison Associates LLC increased its stake in Vertiv by 68.6% during the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock worth $880,971,000 after acquiring an additional 3,153,932 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock valued at $379,101,000 after purchasing an additional 1,928,275 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Vertiv by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after purchasing an additional 1,244,780 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Vertiv Trading Up 2.4 %

The stock has a fifty day moving average price of $89.17 and a 200 day moving average price of $109.50. The stock has a market cap of $26.42 billion, a PE ratio of 54.21, a PEG ratio of 1.07 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business posted $0.56 EPS. Equities analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv's dividend payout ratio is currently 11.72%.

Vertiv Company Profile

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.