Vertiv (NYSE:VRT) Shares Down 1.1% – Here’s Why

Shares of Vertiv Holdings Co (NYSE:VRT) dropped 1.1% during mid-day trading on Monday . The stock traded as low as $85.80 and last traded at $85.96. Approximately 2,412,756 shares were traded during trading, a decline of 73% from the average daily volume of 8,964,110 shares. The stock had previously closed at $86.95.

Analysts Set New Price Targets

A number of analysts recently weighed in on VRT shares. Morgan Stanley decreased their price target on shares of Vertiv from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on Vertiv from $132.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Roth Mkm initiated coverage on shares of Vertiv in a report on Tuesday, April 8th. They issued a “buy” rating and a $75.00 target price on the stock. Cowen reiterated a “buy” rating on shares of Vertiv in a research report on Thursday. Finally, Evercore ISI reduced their price objective on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Vertiv presently has an average rating of “Moderate Buy” and an average target price of $120.38.

Vertiv Trading Down 1.4 %

The firm’s 50 day simple moving average is $81.05 and its two-hundred day simple moving average is $107.57. The stock has a market capitalization of $32.63 billion, a P/E ratio of 66.74, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $0.43 earnings per share. Vertiv’s quarterly revenue was up 24.2% compared to the same quarter last year. As a group, analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were given a $0.0375 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.18%. Vertiv’s payout ratio is presently 8.72%.

Institutional Trading of Vertiv

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock valued at $4,130,415,000 after purchasing an additional 1,244,780 shares during the last quarter. Jennison Associates LLC increased its position in Vertiv by 68.6% during the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock valued at $880,971,000 after purchasing an additional 3,153,932 shares during the period. Geode Capital Management LLC lifted its holdings in Vertiv by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company’s stock worth $688,260,000 after buying an additional 99,181 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Vertiv during the fourth quarter valued at about $597,379,000. Finally, Wellington Management Group LLP grew its stake in Vertiv by 25.3% during the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company’s stock worth $557,349,000 after buying an additional 990,361 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.