Vertiv (NYSE:VRT) Posts Earnings Results, Beats Expectations By $0.07 EPS

Vertiv (NYSE:VRT) issued its quarterly earnings results on Wednesday. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07, Briefing.com reports. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS.

Vertiv Stock Up 1.4 %

Vertiv stock traded up $1.53 during trading hours on Thursday, hitting $109.89. The company had a trading volume of 790,531 shares, compared to its average volume of 8,351,531. The firm has a market capitalization of $41.14 billion, a P/E ratio of 105.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The firm’s fifty day moving average is $92.37 and its 200-day moving average is $89.83. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41.

Vertiv Dividend Announcement

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

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’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 value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Evercore ISI upped their price target on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer increased their target price on shares of Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $117.89.

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.