Vertiv (NYSE:VRT) Trading Up 1.8% After Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT) shares were up 1.8% during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $106.00 to $122.00. The Goldman Sachs Group currently has a buy rating on the stock. Vertiv traded as high as $110.61 and last traded at $110.47. Approximately 1,375,014 shares changed hands during trading, a decline of 84% from the average daily volume of 8,713,347 shares. The stock had previously closed at $108.47.

VRT has been the topic of several other research reports. Morgan Stanley lowered their target price on shares of Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada started coverage on shares of Vertiv in a report on Friday, March 7th. They issued an “outperform” rating and a $121.00 price objective for the company. Evercore ISI reissued an “outperform” rating and set a $150.00 target price (up previously from $100.00) on shares of Vertiv in a report on Tuesday, May 27th. Barclays cut their target price on Vertiv from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Finally, JPMorgan Chase & Co. lifted their price target on Vertiv from $100.00 to $127.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertiv has an average rating of “Moderate Buy” and a consensus target price of $124.69.

Insider Transactions at Vertiv

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

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its stake in Vertiv by 27.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,367 shares of the company’s stock valued at $383,000 after purchasing an additional 734 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of Vertiv by 14.8% during the fourth quarter. Apollon Wealth Management LLC now owns 11,363 shares of the company’s stock valued at $1,291,000 after buying an additional 1,469 shares in the last quarter. Kingsview Wealth Management LLC raised its position in Vertiv by 60.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 5,873 shares of the company’s stock valued at $667,000 after buying an additional 2,219 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in Vertiv by 17.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,881 shares of the company’s stock worth $782,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Vertiv by 67.0% in the 4th quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock worth $1,043,000 after acquiring an additional 3,682 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The stock has a 50-day simple moving average of $91.50 and a 200 day simple moving average of $104.22. The stock has a market capitalization of $42.10 billion, a price-to-earnings ratio of 86.30, a price-to-earnings-growth ratio of 1.07 and a beta of 1.73.

Vertiv (NYSE:VRT) last posted 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 net margin of 6.19% and a return on equity of 61.41%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. The firm’s revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

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.