TD Cowen Issues Positive Forecast for Vertiv (NYSE:VRT) Stock Price

Vertiv (NYSE:VRT) had its target price hoisted by TD Cowen from $115.00 to $141.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Bank of America increased their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group started coverage on shares of Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective for the company. Citigroup raised their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday. Evercore ISI raised their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average target price of $138.50.

Vertiv Trading Up 14.6 %

Shares of Vertiv stock opened at $140.94 on Tuesday. Vertiv has a 12-month low of $41.01 and a 12-month high of $141.12. 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 stock has a market cap of $52.90 billion, a PE ratio of 93.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The company has a 50-day moving average of $107.65 and a two-hundred day moving average of $94.27.

Vertiv (NYSE:VRT) last issued its earnings results 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. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, research analysts anticipate that Vertiv will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

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

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.01% of the stock is owned by company insiders.

Institutional Trading of Vertiv

A number of hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of Vertiv in the 2nd quarter valued at $26,000. Mather Group LLC. boosted its holdings in shares of 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 during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Vertiv in the 3rd quarter valued at $29,000. Global Trust Asset Management LLC acquired a new position in shares of Vertiv in the 3rd quarter valued at $30,000. Finally, Mark Sheptoff Financial Planning LLC boosted 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 purchasing an additional 200 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.