Vertiv (NYSE:VRT) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Vertiv (NYSE:VRT) released its quarterly earnings results on Wednesday. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06, Briefing.com reports. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS.

Vertiv Price Performance

VRT opened at $93.49 on Friday. Vertiv has a 1 year low of $13.73 and a 1 year high of $95.32. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. The company’s 50 day simple moving average is $76.51 and its 200 day simple moving average is $57.47. The stock has a market capitalization of $35.71 billion, a PE ratio of 89.89, a P/E/G ratio of 1.44 and a beta of 1.59.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued 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 payout ratio is currently 9.62%.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated 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 directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was 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. 5.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on VRT. Oppenheimer lifted their price target on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America raised their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Citigroup increased their target price on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. Finally, Evercore ISI boosted their price target on Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.11.

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.