Vertiv (NYSE:VRT) Price Target Raised to $130.00

Vertiv (NYSE:VRT) had its price target hoisted by Citigroup from $98.00 to $130.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on VRT. Morgan Stanley decreased their target price on shares of Vertiv from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. KGI Securities started coverage on shares of Vertiv in a report on Thursday, April 24th. They issued a “hold” rating for the company. Royal Bank Of Canada assumed coverage on shares of Vertiv in a research note on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Vertiv from $100.00 to $127.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group increased their price target on Vertiv from $106.00 to $122.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.69.

Vertiv Stock Performance

Shares of VRT stock opened at $119.19 on Monday. Vertiv has a 12-month low of $53.60 and a 12-month 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 firm has a market capitalization of $45.42 billion, a price-to-earnings ratio of 69.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.73. The business has a 50 day simple moving average of $97.38 and a 200 day simple moving average of $103.79.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. On average, equities research analysts anticipate that Vertiv will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 17th will be given a $0.0375 dividend. This is a positive change from Vertiv’s previous dividend of $0.01. The ex-dividend date is Monday, June 16th. This represents a dividend yield of 0.14%. Vertiv’s dividend payout ratio (DPR) is 8.72%.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 43,683 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 9,551 shares of the company’s stock, 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 filing with the SEC, which is available at this link. Also, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider now owns 18,847 shares in the company, valued at $1,777,837.51. This represents a 22.59% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VRT. Empowered Funds LLC grew its stake in Vertiv by 67.0% during the 4th quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock valued at $1,043,000 after acquiring an additional 3,682 shares in the last quarter. Sound View Wealth Advisors Group LLC acquired a new stake in shares of Vertiv during the fourth quarter worth approximately $1,218,000. Schroder Investment Management Group grew its position in Vertiv by 95.3% during the fourth quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company’s stock valued at $135,621,000 after purchasing an additional 569,722 shares in the last quarter. Bedell Frazier Investment Counselling LLC acquired a new position in Vertiv in the 4th quarter valued at approximately $415,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Vertiv by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,111 shares of the company’s stock valued at $198,376,000 after buying an additional 45,917 shares during the period. 89.92% of the stock is 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.