Vertiv (NYSE:VRT) Stock Price Up 0.1% Following Analyst Upgrade

10 Oct 2024, 05:22 by Tristan Rich · The Markets Daily

Vertiv Holdings Co (NYSE:VRT – Get Free Report)’s share price rose 0.1% during mid-day trading on Tuesday after Evercore ISI raised their price target on the stock from $105.00 to $125.00. Evercore ISI currently has an outperform rating on the stock. Vertiv traded as high as $108.08 and last traded at $106.84. Approximately 1,197,971 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 8,407,363 shares. The stock had previously closed at $106.73.

VRT has been the topic of a number of other research reports. TD Cowen lifted their price objective on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Vertiv in a research report on Monday. They set a “buy” rating and a $125.00 target price on the stock. Finally, The Goldman Sachs Group dropped their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv has a consensus rating of “Buy” and a consensus target price of $106.89.

Read Our Latest Analysis on VRT

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several large investors have recently made changes to their positions in VRT. Personal CFO Solutions LLC acquired a new position in shares of Vertiv in the 4th quarter valued at $202,000. Point72 Asset Management L.P. lifted its stake in shares of Vertiv by 28.0% in the 4th quarter. Point72 Asset Management L.P. now owns 1,458,778 shares of the company’s stock valued at $70,065,000 after purchasing an additional 318,819 shares during the period. Coatue Management LLC lifted its stake in shares of Vertiv by 19.5% in 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 period. C M Bidwell & Associates Ltd. acquired a new position in shares of Vertiv in the 4th quarter valued at $231,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Vertiv in the 4th quarter valued at $1,858,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Performance

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The firm’s 50 day moving average is $83.98 and its 200-day moving average is $87.67. The stock has a market capitalization of $40.49 billion, a price-to-earnings ratio of 104.00, a PEG ratio of 1.26 and a beta of 1.59.

Vertiv (NYSE:VRT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. Analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Vertiv Company Profile

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