Vertiv (NYSE:VRT) Shares Up 3.9% After Analyst Upgrade
Vertiv Holdings Co (NYSE:VRT – Get Free Report)’s stock price traded up 3.9% during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $49.00 to $58.00. Citigroup currently has a buy rating on the stock. Vertiv traded as high as $49.67 and last traded at $49.49. 2,257,054 shares changed hands during trading, a decline of 57% from the average session volume of 5,278,996 shares. The stock had previously closed at $47.63.
VRT has been the topic of several other research reports. Mizuho upped their target price on Vertiv from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. JPMorgan Chase & Co. lifted their target price on Vertiv from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, November 30th. The Goldman Sachs Group boosted their price target on Vertiv from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Vertiv from $39.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Finally, Evercore ISI increased their price target on Vertiv from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, September 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.33.
View Our Latest Stock Analysis on Vertiv
Institutional Investors Weigh In On Vertiv
Hedge funds have recently bought and sold shares of the company. FMR LLC raised its position in shares of Vertiv by 182.4% in the third quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after buying an additional 30,511,907 shares in the last quarter. Starboard Value LP bought a new position in Vertiv in the 4th quarter valued at about $230,880,000. BlackRock Inc. increased its stake in Vertiv by 32.8% in the 1st quarter. BlackRock Inc. now owns 18,988,356 shares of the company’s stock valued at $265,836,000 after buying an additional 4,693,256 shares during the last quarter. Millennium Management LLC purchased a new stake in Vertiv in the 4th quarter valued at about $41,665,000. Finally, Norges Bank purchased a new stake in shares of Vertiv during the 4th quarter worth approximately $40,173,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.
Vertiv Stock Performance
The company’s 50 day moving average price is $41.18 and its 200-day moving average price is $33.85. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.28 and a current ratio of 1.72. The company has a market cap of $18.80 billion, a PE ratio of 73.31 and a beta of 1.42.
Vertiv (NYSE:VRT – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. Vertiv had a net margin of 3.82% and a return on equity of 36.13%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business posted $0.23 EPS. Vertiv’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that Vertiv Holdings Co will post 1.74 earnings per share for the current fiscal year.
Vertiv Increases Dividend
The business also recently declared an annual dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Monday, December 11th will be paid a dividend of $0.025 per share. The ex-dividend date is Friday, December 8th. This represents a dividend yield of 0.1%. This is a positive change from Vertiv’s previous annual dividend of $0.01. Vertiv’s dividend payout ratio (DPR) is presently 4.62%.
About Vertiv (Get Free Report)
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.
Further Reading
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Original: MarketBeat News Feed: Vertiv (NYSE:VRT) Shares Up 3.9% After Analyst Upgrade