Vertiv (NYSE:VRT) Stock Price Down 4.6% Following Analyst Downgrade

Shares of Vertiv Holdings Co (NYSE:VRT) were down 4.6% on Thursday after Barclays lowered their price target on the stock from $111.00 to $100.00. Barclays currently has an equal weight rating on the stock. Vertiv traded as low as $76.02 and last traded at $77.83. Approximately 5,943,591 shares changed hands during trading, a decline of 43% from the average daily volume of 10,403,932 shares. The stock had previously closed at $81.62.

A number of other equities research analysts have also weighed in on the stock. Fox Advisors assumed coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating on the stock. Melius Research reiterated a “hold” rating and set a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. Royal Bank of Canada started coverage on shares of Vertiv in a report on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective on the stock. Melius lowered shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, January 28th. Finally, Morgan Stanley began coverage on shares of Vertiv in a research report on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $135.33.

Hedge Funds Weigh In On Vertiv

A number of large investors have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its holdings in Vertiv by 8.1% during the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company’s stock worth $128,000 after purchasing an additional 84 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Vertiv by 2.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company’s stock worth $420,000 after buying an additional 85 shares in the last quarter. Accurate Wealth Management LLC boosted its position in shares of Vertiv by 4.1% in the fourth quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock valued at $254,000 after acquiring an additional 87 shares during the period. Horizon Investment Services LLC grew its stake in Vertiv by 4.1% during the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company’s stock valued at $274,000 after acquiring an additional 95 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its holdings in Vertiv by 3.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company’s stock worth $367,000 after acquiring an additional 97 shares during the period. 89.92% of the stock is owned by institutional investors.

Vertiv Stock Down 4.6 %

The company’s 50 day simple moving average is $105.10 and its 200-day simple moving average is $111.48. The firm has a market capitalization of $29.64 billion, a PE ratio of 60.81, a PEG 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.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same period in the previous year, the business earned $0.56 EPS. On average, analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th will be issued a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.19%. Vertiv’s dividend payout ratio is currently 11.72%.

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.