Vertiv (NYSE:VRT - Free Report) had its target price hoisted by Citigroup from $134.00 to $141.00 in a research report report published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.
Other research analysts have also recently issued research reports about the company. Bank of America boosted their price target on Vertiv from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. TD Cowen upped their price objective on Vertiv from $93.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. UBS Group initiated coverage on Vertiv in a research report on Wednesday, November 13th. They set a "buy" rating and a $155.00 price objective for the company. Evercore ISI upped their price objective on Vertiv from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on Vertiv from $124.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $138.50.
Check Out Our Latest Stock Analysis on VRT
Vertiv Stock Up 14.6 %
Vertiv stock traded up $17.92 during mid-day trading on Tuesday, hitting $140.94. The company had a trading volume of 14,833,821 shares, compared to its average volume of 8,199,526. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock's 50 day moving average price is $107.65 and its two-hundred day moving average price is $94.27. Vertiv has a 12 month low of $41.01 and a 12 month high of $141.12. The company has a market capitalization of $52.90 billion, a PE ratio of 93.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58.
Vertiv (NYSE:VRT - Get Free Report) last released its earnings results 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 business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The company's revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vertiv will post 2.69 earnings per share for the current fiscal year.
Vertiv Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This is a positive change from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv's dividend payout ratio is 6.67%.
Insider Activity at Vertiv
In other news, insider Karsten Winther sold 44,924 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company's stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.01% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Anchor Investment Management LLC bought a new stake in Vertiv during the 2nd quarter valued at $26,000. Mather Group LLC. boosted its position in shares of 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 in the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Vertiv in the 3rd quarter worth $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the 3rd quarter worth $30,000. Finally, Mark Sheptoff Financial Planning LLC boosted its position in shares of Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company's stock worth $30,000 after purchasing an additional 200 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
Before you consider Vertiv, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Vertiv wasn't on the list.
While Vertiv currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
