Vertiv Holdings Co (NYSE:VRT - Get Free Report) shares were up 12.7% on Wednesday following a stronger than expected earnings report. The company traded as high as $86.93 and last traded at $80.97. Approximately 11,318,432 shares were traded during trading, an increase of 25% from the average daily volume of 9,046,101 shares. The stock had previously closed at $71.82.
The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 61.41% and a net margin of 6.19%.
Vertiv Dividend Announcement
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. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.17%. Vertiv's payout ratio is 8.72%.
Analyst Ratings Changes
Several analysts have recently commented on VRT shares. Melius lowered shares of Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price target on the stock. in a research report on Tuesday, January 28th. Morgan Stanley reduced their price objective on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday. Citigroup decreased their target price on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group dropped their price target on shares of Vertiv from $135.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Barclays cut their target price on Vertiv from $100.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Five 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. According to MarketBeat, Vertiv currently has an average rating of "Moderate Buy" and a consensus price target of $120.38.
Check Out Our Latest Stock Analysis on VRT
Institutional Trading of Vertiv
A number of hedge funds and other institutional investors have recently made changes to their positions in VRT. Vanguard Group Inc. grew its stake in Vertiv by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after buying an additional 1,244,780 shares during the last quarter. Jennison Associates LLC grew its position in shares of 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. Geode Capital Management LLC increased its holdings in shares of Vertiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock valued at $688,260,000 after acquiring an additional 99,181 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv in the 4th quarter valued at $597,379,000. Finally, Wellington Management Group LLP boosted its stake in Vertiv by 25.3% during the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock worth $557,349,000 after purchasing an additional 990,361 shares during the period. Institutional investors and hedge funds own 89.92% of the company's stock.
Vertiv Stock Performance
The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The stock has a market cap of $32.86 billion, a price-to-earnings ratio of 67.73, a PEG ratio of 1.07 and a beta of 1.71. The stock's 50 day moving average is $81.52 and its two-hundred day moving average is $107.71.
About Vertiv
(
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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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