Vertiv (NYSE:VRT) Trading Down 8.5% - Here's What Happened

Vertiv Holdings Co (NYSE:VRT - Get Free Report)'s stock price was down 8.5% during mid-day trading on Monday . The company traded as low as $121.84 and last traded at $122.50. Approximately 2,767,672 shares traded hands during trading, a decline of 66% from the average daily volume of 8,128,790 shares. The stock had previously closed at $133.85.

Analyst Upgrades and Downgrades

Several brokerages have commented on VRT. Bank of America raised their target price on Vertiv from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Oppenheimer boosted their price objective on shares of Vertiv from $121.00 to $131.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a "buy" rating and a $125.00 target price on the stock. Mizuho upped their price target on shares of Vertiv from $125.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Finally, Citigroup lifted their price objective on Vertiv from $141.00 to $155.00 and gave the company a "buy" rating in a research note on Monday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $139.90.

Vertiv Stock Down 5.1 %

The company has a 50 day moving average of $118.10 and a 200-day moving average of $97.40. The company has a market capitalization of $47.70 billion, a P/E ratio of 84.74, a PEG ratio of 1.38 and a beta of 1.61. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The company's revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, equities analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.12%. This is an increase from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv's payout ratio is 6.67%.

Insider Activity at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, the director now owns 3,425 shares of the company's stock, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen Liang sold 86,619 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the sale, the executive vice president now directly owns 19,551 shares of the company's stock, valued at $2,562,549.57. The trade was a 81.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by insiders.

Institutional Trading of Vertiv

Several hedge funds have recently bought and sold shares of VRT. Cetera Advisors LLC increased its stake in shares of Vertiv by 41.1% in the first quarter. Cetera Advisors LLC now owns 9,252 shares of the company's stock worth $756,000 after purchasing an additional 2,695 shares in the last quarter. Mather Group LLC. lifted its position in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company's stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Vertiv by 4.6% in the second quarter. QRG Capital Management Inc. now owns 10,000 shares of the company's stock worth $866,000 after acquiring an additional 444 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Vertiv during the second quarter worth about $375,000. Finally, WASHINGTON TRUST Co lifted its holdings in Vertiv by 124.0% in the 2nd quarter. WASHINGTON TRUST Co now owns 560 shares of the company's stock worth $48,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 89.92% of the company's stock.

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.

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