Vertiv (NYSE:VRT) Price Target Raised to $140.00

Vertiv (NYSE:VRT) had its price objective raised by Oppenheimer from $132.00 to $140.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

VRT has been the subject of several other research reports. Roth Mkm initiated coverage on Vertiv in a research note on Tuesday, April 8th. They set a “buy” rating and a $75.00 target price for the company. Melius Research upgraded Vertiv from a “hold” rating to a “strong-buy” rating and increased their target price for the company from $134.00 to $165.00 in a research note on Tuesday, July 8th. Wolfe Research restated an “outperform” rating and set a $155.00 target price on shares of Vertiv in a research note on Thursday, July 10th. Citigroup increased their target price on Vertiv from $130.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Barclays upped their price target on Vertiv from $90.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Vertiv currently has an average rating of “Buy” and an average price target of $136.76.

Vertiv Stock Performance

Shares of VRT stock opened at $129.18 on Thursday. Vertiv has a 1-year low of $53.60 and a 1-year high of $155.84. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $49.23 billion, a price-to-earnings ratio of 75.10, a P/E/G ratio of 1.28 and a beta of 1.75. The stock’s fifty day simple moving average is $116.14 and its 200-day simple moving average is $104.07.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, sell-side analysts predict that Vertiv will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

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

Insider Activity

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

Hedge Funds Weigh In On Vertiv

A number of hedge funds and other institutional investors have recently bought and sold shares of VRT. Corient Private Wealth LLC boosted its holdings in shares of Vertiv by 94.7% during the fourth quarter. Corient Private Wealth LLC now owns 28,872 shares of the company’s stock worth $3,280,000 after acquiring an additional 14,042 shares during the period. Parallel Advisors LLC boosted its stake in shares of Vertiv by 42.4% in the fourth quarter. Parallel Advisors LLC now owns 4,829 shares of the company’s stock valued at $549,000 after buying an additional 1,437 shares during the period. Signaturefd LLC boosted its stake in shares of Vertiv by 7.6% in the fourth quarter. Signaturefd LLC now owns 7,068 shares of the company’s stock valued at $803,000 after buying an additional 501 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Vertiv by 7.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 7,964 shares of the company’s stock valued at $905,000 after buying an additional 580 shares during the period. Finally, Horizon Investments LLC boosted its stake in shares of Vertiv by 21.9% in the fourth quarter. Horizon Investments LLC now owns 1,787 shares of the company’s stock valued at $203,000 after buying an additional 321 shares during the period. Institutional investors own 89.92% of the company’s stock.

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.