Vertiv (NYSE:VRT) Given New $145.00 Price Target at Mizuho

Vertiv (NYSE:VRT) had its target price increased by Mizuho from $125.00 to $145.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on VRT. Oppenheimer lifted their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group lowered their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Bank of America boosted their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup boosted their price objective on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, TD Cowen boosted their price objective on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $140.94 on Tuesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The business’s 50 day moving average price is $107.65 and its 200-day moving average price is $94.27. 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 has a 1 year low of $41.01 and a 1 year high of $141.12.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, equities research analysts expect that Vertiv will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. 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. Vertiv’s payout ratio is currently 6.67%.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction 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 sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several institutional investors and hedge funds have recently modified their holdings of the company. Old West Investment Management LLC raised its holdings in shares of Vertiv by 44.1% in the 3rd quarter. Old West Investment Management LLC now owns 28,372 shares of the company’s stock valued at $2,823,000 after buying an additional 8,683 shares during the period. TCW Group Inc. raised its holdings in shares of Vertiv by 9.5% in the 3rd quarter. TCW Group Inc. now owns 498,387 shares of the company’s stock valued at $49,585,000 after buying an additional 43,148 shares during the period. Virtue Capital Management LLC grew its stake in Vertiv by 1.2% during the 3rd quarter. Virtue Capital Management LLC now owns 15,061 shares of the company’s stock worth $1,498,000 after purchasing an additional 177 shares in the last quarter. Toronto Dominion Bank grew its stake in Vertiv by 26.6% during the 3rd quarter. Toronto Dominion Bank now owns 43,521 shares of the company’s stock worth $4,330,000 after purchasing an additional 9,150 shares in the last quarter. Finally, TT International Asset Management LTD grew its stake in Vertiv by 746.5% during the 3rd quarter. TT International Asset Management LTD now owns 50,098 shares of the company’s stock worth $4,984,000 after purchasing an additional 44,180 shares in the last quarter. 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.