Vertiv (NYSE:VRT) Trading Down 1% Following Analyst Downgrade

Shares of Vertiv Holdings Co (NYSE:VRT) dropped 1% on Friday after The Goldman Sachs Group lowered their price target on the stock from $135.00 to $85.00. The Goldman Sachs Group currently has a buy rating on the stock. Vertiv traded as low as $65.68 and last traded at $67.04. Approximately 2,580,016 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 8,987,379 shares. The stock had previously closed at $67.73.

VRT has been the topic of a number of other reports. Roth Capital raised shares of Vertiv to a “strong-buy” rating in a research report on Monday, April 7th. Morgan Stanley started coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Vertiv from $132.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday. Fox Advisors started coverage on Vertiv in a research report on Monday, January 6th. They issued an “equal weight” rating on the stock. Finally, Roth Mkm assumed coverage on Vertiv in a research report on Tuesday. They set a “buy” rating and a $75.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $125.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Vertiv by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock worth $4,130,415,000 after buying an additional 1,244,780 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Vertiv by 68.6% in the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after acquiring an additional 3,153,932 shares during the period. Geode Capital Management LLC raised its holdings in shares of Vertiv by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company’s stock valued at $688,260,000 after purchasing an additional 99,181 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Vertiv during the fourth quarter valued at approximately $597,379,000. Finally, Wellington Management Group LLP boosted its holdings in Vertiv by 25.3% in the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company’s stock worth $557,349,000 after purchasing an additional 990,361 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

Vertiv Stock Performance

The firm has a market cap of $26.42 billion, a P/E ratio of 54.21, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The business’s 50-day simple moving average is $89.17 and its 200 day simple moving average is $109.50.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same period in the prior year, the company posted $0.56 EPS. As a group, equities analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Tuesday, March 18th. Vertiv’s payout ratio is currently 11.72%.

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.