Oppenheimer Raises Vertiv (NYSE:VRT) Price Target to $98.00

Vertiv (NYSE:VRT) had its target price raised by Oppenheimer from $96.00 to $98.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently weighed in on the company. Bank of America upped their price target on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. JPMorgan Chase & Co. boosted their price objective on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a report on Thursday. Citigroup boosted their price objective on Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a report on Monday, April 8th. Mizuho upped their target price on Vertiv from $50.00 to $56.00 and gave the company a neutral rating in a report on Thursday, February 22nd. Finally, Evercore ISI upped their target price on Vertiv from $80.00 to $90.00 and gave the company an outperform rating in a report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $76.78.

Vertiv Stock Up 6.8 %

Shares of VRT opened at $90.35 on Thursday. The company has a market capitalization of $34.51 billion, a PE ratio of 86.88, a PEG ratio of 1.37 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The stock’s 50-day moving average price is $75.90 and its two-hundred day moving average price is $57.10. Vertiv has a 12 month low of $13.06 and a 12 month high of $94.39.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. On average, analysts anticipate that Vertiv will post 2.31 EPS for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. The ex-dividend date was Monday, March 18th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s dividend payout ratio is currently 9.62%.

Insiders Place Their Bets

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. Company insiders own 5.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MONECO Advisors LLC bought a new position in shares of Vertiv during the first quarter valued at about $334,000. Bogart Wealth LLC bought a new position in shares of Vertiv during the first quarter valued at about $25,000. Lindbrook Capital LLC grew its stake in shares of Vertiv by 33.2% during the first quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock valued at $45,000 after buying an additional 137 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Vertiv by 9.7% during the first quarter. New York State Teachers Retirement System now owns 31,340 shares of the company’s stock valued at $2,560,000 after buying an additional 2,778 shares during the last quarter. Finally, Ulland Investment Advisors LLC grew its stake in shares of Vertiv by 858.6% during the first quarter. Ulland Investment Advisors LLC now owns 57,121 shares of the company’s stock valued at $4,665,000 after buying an additional 51,162 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

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.