Vertiv (NYSE:VRT) Sets New 1-Year High After Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT) hit a new 52-week high on Thursday after Mizuho raised their price target on the stock from $92.00 to $110.00. Mizuho currently has an outperform rating on the stock. Vertiv traded as high as $115.83 and last traded at $115.83, with a volume of 78211 shares. The stock had previously closed at $111.69.

Several other brokerages also recently weighed in on VRT. Bank of America upped their price target on Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer upped their price objective on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. The Goldman Sachs Group lowered their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Evercore ISI upped their price objective on Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $112.44.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Vertiv

Large investors have recently modified their holdings of the business. Anchor Investment Management LLC purchased a new position in shares of Vertiv during the 2nd quarter worth approximately $26,000. Atticus Wealth Management LLC purchased a new position in Vertiv in the 1st quarter valued at approximately $27,000. Mather Group LLC. increased its stake in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Vertiv in the 3rd quarter valued at approximately $29,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Vertiv in the 1st quarter valued at approximately $34,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Up 2.3 %

The stock has a market capitalization of $42.78 billion, a PE ratio of 109.88, a P/E/G ratio of 1.42 and a beta of 1.59. The firm has a 50 day moving average of $89.49 and a two-hundred day moving average of $88.98. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $0.46 EPS. Vertiv’s quarterly revenue was up 12.6% on a year-over-year basis. Equities research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

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.