Vertiv (NYSE:VRT) Stock Price Down 1.8% – Here’s What Happened

Vertiv Holdings Co (NYSE:VRT) shares dropped 1.8% during mid-day trading on Tuesday . The company traded as low as $97.50 and last traded at $100.73. Approximately 10,381,504 shares changed hands during trading, an increase of 14% from the average daily volume of 9,123,183 shares. The stock had previously closed at $102.60.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VRT shares. Bank of America lifted their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Oppenheimer upped their target price on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Fox Advisors began coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating for the company. Melius lowered Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday. Finally, Melius Research restated a “hold” rating and set a $125.00 price objective on shares of Vertiv in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Vertiv Trading Up 3.4 %

The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm’s fifty day moving average is $127.86 and its two-hundred day moving average is $105.60. The firm has a market cap of $39.84 billion, a P/E ratio of 70.76, a PEG ratio of 1.16 and a beta of 1.63.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is currently 6.67%.

Insider Buying and Selling at Vertiv

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertiv

Institutional investors and hedge funds have recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new stake in Vertiv during the 2nd quarter valued at about $26,000. SOA Wealth Advisors LLC. bought a new position in shares of Vertiv in the fourth quarter worth approximately $26,000. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the third quarter valued at approximately $29,000. Global Trust Asset Management LLC bought a new stake in shares of Vertiv during the third quarter valued at approximately $30,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. 89.92% of the stock is currently owned by 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.