Vertiv (NYSE:VRT) Stock Price Up 8.4% Following Dividend Announcement

Shares of Vertiv Holdings Co (NYSE:VRT - Get Free Report) were up 8.4% during trading on Tuesday after the company announced a dividend. The stock traded as high as $133.46 and last traded at $133.40. Approximately 4,085,914 shares traded hands during trading, a decline of 50% from the average daily volume of 8,146,420 shares. The stock had previously closed at $123.02.

The newly announced dividend which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. This is an increase from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv's dividend payout ratio is 6.67%.

Analyst Upgrades and Downgrades

VRT has been the topic of several research analyst reports. TD Cowen lifted their price target on Vertiv from $115.00 to $141.00 and gave the company a "buy" rating in a research report on Tuesday. Mizuho lifted their target price on Vertiv from $125.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday. UBS Group began coverage on shares of Vertiv in a report on Wednesday, November 13th. They issued a "buy" rating and a $155.00 price target for the company. Evercore ISI lifted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, Citigroup increased their target price on shares of Vertiv from $134.00 to $141.00 and gave the company a "buy" rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has a consensus rating of "Buy" and a consensus target price of $138.50.

Vertiv Stock Performance

The firm's 50-day moving average price is $107.65 and its two-hundred day moving average price is $94.27. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $52.90 billion, a PE ratio of 93.96, a P/E/G ratio of 1.31 and a beta of 1.58.

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

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

Large investors have recently made changes to their positions in the business. Krane Funds Advisors LLC purchased a new position in Vertiv during the third quarter valued at approximately $29,000. Anchor Investment Management LLC acquired a new stake in shares of Vertiv during the 2nd quarter valued at $26,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv during the 3rd quarter valued at $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company's stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Vertiv in the third quarter worth $30,000. Institutional investors and hedge funds 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.