Vertiv (NYSE:VRT) Sees Strong Trading Volume – Here’s What Happened

Shares of Vertiv Holdings Co (NYSE:VRT) saw strong trading volume on Friday . 3,470,973 shares traded hands during mid-day trading, a decline of 57% from the previous session’s volume of 8,096,930 shares.The stock last traded at $127.31 and had previously closed at $125.04.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research reports. Oppenheimer raised their price target on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group increased their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Evercore ISI raised their price target on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Bank of America lifted their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.09.

Vertiv Price Performance

The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The company has a market capitalization of $47.21 billion, a price-to-earnings ratio of 83.85, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61. The company has a 50-day moving average price of $120.45 and a 200-day moving average price of $98.16.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The firm 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 business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, equities research analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently declared 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 is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio is 6.67%.

Insider Transactions at Vertiv

In related news, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction on 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 in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jan Van Dokkum sold 38,647 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.39, for a total value of $5,271,064.33. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. This trade represents a 60.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock valued at $23,105,682 over the last 90 days. 5.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vertiv

Large investors have recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new position in Vertiv during the third quarter worth $29,000. Anchor Investment Management LLC acquired a new position in shares of Vertiv during the 2nd quarter worth about $26,000. Global Trust Asset Management LLC acquired a new position in shares of Vertiv during the 3rd quarter worth about $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Vertiv by 200.0% in 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 bought a new stake in Vertiv during the third quarter worth about $30,000. Institutional investors and hedge funds 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.