Vertiv (NYSE:VRT) Sets New 52-Week High Following Dividend Announcement

Vertiv Holdings Co (NYSE:VRT) reached a new 52-week high during trading on Tuesday after the company announced a dividend. The stock traded as high as $131.33 and last traded at $131.12, with a volume of 2929031 shares. The stock had previously closed at $123.02.

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

Analyst Ratings Changes

Several research firms have recently weighed in on VRT. UBS Group began coverage on Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Mizuho raised their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday. Bank of America increased their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group started coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Down 2.4 %

The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The firm has a market cap of $51.63 billion, a P/E ratio of 91.71, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The firm’s 50 day moving average is $108.75 and its two-hundred day moving average is $94.57.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is currently owned by insiders.

Institutional Trading of Vertiv

Several hedge funds and other institutional investors have recently modified their holdings of VRT. Jennison Associates LLC raised its position in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after buying an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv during the 2nd quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Finally, Castle Hook Partners LP boosted its holdings in Vertiv by 215.6% during the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after purchasing an additional 1,273,746 shares during the last quarter. 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.