Vertiv (NYSE:VRT – Free Report) had its price target lifted by Oppenheimer from $100.00 to $115.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.
Other research analysts have also issued research reports about the company. Mizuho raised Vertiv from a neutral rating to an outperform rating and lowered their price objective for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. TD Cowen increased their target price on Vertiv from $89.00 to $93.00 and gave the company a buy rating in a research note on Thursday, July 25th. Evercore ISI increased their target price on Vertiv from $105.00 to $125.00 and gave the company an outperform rating in a research note on Monday, October 7th. Jefferies Financial Group assumed coverage on Vertiv in a research note on Monday, October 7th. They set a buy rating and a $125.00 target price for the company. Finally, The Goldman Sachs Group decreased their target price on Vertiv from $116.00 to $104.00 and set a buy rating for the company in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv presently has a consensus rating of Buy and an average target price of $108.78.
Read Our Latest Stock Analysis on VRT
Vertiv Stock Performance
Vertiv (NYSE:VRT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. Analysts predict that Vertiv will post 2.58 earnings per share for the current fiscal year.
Vertiv Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. Vertiv’s dividend payout ratio is currently 9.62%.
Insiders Place Their Bets
In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.01% of the company’s stock.
Hedge Funds Weigh In On Vertiv
A number of hedge funds have recently modified their holdings of VRT. ORG Partners LLC increased its holdings in Vertiv by 25.1% during the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after purchasing an additional 92 shares in the last quarter. GAMMA Investing LLC increased its holdings in Vertiv by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock valued at $53,000 after purchasing an additional 119 shares in the last quarter. Callan Family Office LLC increased its holdings in Vertiv by 0.9% during the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock valued at $1,491,000 after purchasing an additional 137 shares in the last quarter. First Community Trust NA increased its holdings in Vertiv by 12.1% during the 3rd quarter. First Community Trust NA now owns 1,446 shares of the company’s stock valued at $144,000 after purchasing an additional 156 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its holdings in Vertiv by 66.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.
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.
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