Vertiv (NYSE:VRT) Stock Price Up 1.3% - Here's What Happened

Vertiv Holdings Co (NYSE:VRT - Get Free Report) traded up 1.3% during mid-day trading on Wednesday . The stock traded as high as $66.09 and last traded at $63.75. 3,081,731 shares were traded during mid-day trading, a decline of 66% from the average session volume of 8,944,145 shares. The stock had previously closed at $62.90.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reduced 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. Morgan Stanley started coverage on Vertiv in a research report on Monday, January 6th. They set an "overweight" rating and a $150.00 target price for the company. Fox Advisors started coverage on Vertiv in a report on Monday, January 6th. They issued an "equal weight" rating on the stock. Royal Bank of Canada started coverage on Vertiv in a report on Friday, March 7th. They set an "outperform" rating and a $121.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Vertiv from $132.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $125.50.

Vertiv Stock Up 2.4 %

The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The stock has a 50 day moving average price of $89.17 and a 200-day moving average price of $109.50. The stock has a market capitalization of $26.42 billion, a P/E ratio of 54.21, a PEG ratio of 1.07 and a beta of 1.71.

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Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same period in the previous year, the company posted $0.56 EPS. As a group, research analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

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

Hedge Funds Weigh In On Vertiv

A number of hedge funds have recently modified their holdings of VRT. National Bank of Canada FI increased its holdings in Vertiv by 12.3% during the 3rd quarter. National Bank of Canada FI now owns 6,164 shares of the company's stock valued at $613,000 after purchasing an additional 677 shares during the period. MML Investors Services LLC grew its position in shares of Vertiv by 14.8% in the 3rd quarter. MML Investors Services LLC now owns 30,716 shares of the company's stock worth $3,056,000 after buying an additional 3,956 shares during the last quarter. Barclays PLC increased its stake in shares of Vertiv by 51.4% during the third quarter. Barclays PLC now owns 431,586 shares of the company's stock valued at $42,940,000 after buying an additional 146,463 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Vertiv by 10.0% during the third quarter. Coldstream Capital Management Inc. now owns 5,134 shares of the company's stock valued at $528,000 after acquiring an additional 468 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Vertiv by 26.6% in the third quarter. Toronto Dominion Bank now owns 43,521 shares of the company's stock worth $4,330,000 after acquiring an additional 9,150 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

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.