Mizuho Reiterates $150.00 Price Target for Vertiv (NYSE:VRT)

Mizuho set a $150.00 price objective on Vertiv (NYSE:VRT) in a research note released on Wednesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Vertiv from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 21st. Citigroup raised their price objective on shares of Vertiv from $130.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, July 14th. UBS Group restated a “buy” rating on shares of Vertiv in a report on Friday, July 11th. The Goldman Sachs Group restated a “buy” rating on shares of Vertiv in a report on Friday, July 11th. Finally, Evercore ISI restated an “outperform” rating on shares of Vertiv in a report on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Vertiv has a consensus rating of “Buy” and a consensus price target of $136.76.

Vertiv Price Performance

VRT opened at $129.18 on Wednesday. Vertiv has a one year low of $53.60 and a one year high of $155.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. The company’s 50 day simple moving average is $116.14 and its 200-day simple moving average is $104.14. The stock has a market capitalization of $49.23 billion, a P/E ratio of 75.10, a price-to-earnings-growth ratio of 1.30 and a beta of 1.75.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. Sell-side analysts anticipate that Vertiv will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a dividend of $0.0375 per share. This is an increase from Vertiv’s previous dividend of $0.01. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 0.14%. Vertiv’s payout ratio is presently 8.72%.

Insider Activity at Vertiv

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Karsten Winther sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider owned 18,847 shares of the company’s stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently bought and sold shares of the stock. GW&K Investment Management LLC bought a new stake in Vertiv in the 1st quarter valued at about $26,000. SouthState Corp bought a new stake in Vertiv in the 1st quarter valued at about $27,000. North Star Investment Management Corp. boosted its holdings in Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company’s stock valued at $30,000 after purchasing an additional 412 shares during the period. Sachetta LLC boosted its holdings in Vertiv by 242.0% in the 1st quarter. Sachetta LLC now owns 448 shares of the company’s stock valued at $32,000 after purchasing an additional 317 shares during the period. Finally, Banque Transatlantique SA bought a new stake in Vertiv in the 1st quarter valued at about $33,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

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.