Vertiv (NYSE:VRT) Shares Down 5.2%

Vertiv Holdings Co (NYSE:VRT)’s share price fell 5.2% during mid-day trading on Wednesday . The stock traded as low as $84.39 and last traded at $86.31. 6,921,221 shares changed hands during trading, a decline of 18% from the average session volume of 8,457,400 shares. The stock had previously closed at $91.00.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRT. Oppenheimer boosted their target price on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. The Goldman Sachs Group boosted their price target on Vertiv from $103.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Mizuho raised their price objective on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price target on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Evercore ISI boosted their price objective on shares of Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.11.

Vertiv Trading Down 13.6 %

The firm has a fifty day moving average of $93.23 and a two-hundred day moving average of $79.59. The company has a market cap of $29.42 billion, a PE ratio of 76.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.58. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. As a group, sell-side analysts predict that Vertiv Holdings Co will post 2.44 EPS for the current year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is currently 9.62%.

Insider Buying and Selling

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the transaction, the director now directly owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Vertiv news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction that occurred on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the sale, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the completion of the transaction, the director now directly owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,162,739 shares of company stock valued at $400,713,362. Company insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRT. Vanguard Group Inc. lifted its stake in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Coatue Management LLC increased its position in shares of Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares in the last quarter. Norges Bank bought a new stake in Vertiv in the 4th quarter worth approximately $185,339,000. Finally, Westfield Capital Management Co. LP boosted its stake in Vertiv by 85.2% in the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after buying an additional 1,563,466 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.