Vertiv Holdings Co (NYSE:VRT – Get Free Report)’s share price shot up 0.7% during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $115.00 and last traded at $113.26. 7,723,320 shares changed hands during trading, a decline of 7% from the average session volume of 8,334,112 shares. The stock had previously closed at $112.47.
The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share.
Vertiv Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. Vertiv’s dividend payout ratio is presently 9.62%.
Wall Street Analyst Weigh In
Get Our Latest Analysis on VRT
Insiders Place Their Bets
In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.01% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of VRT. Anchor Investment Management LLC acquired a new position in shares of Vertiv during the 2nd quarter worth about $26,000. Atticus Wealth Management LLC acquired a new position in shares of Vertiv during the 1st quarter worth about $27,000. Mather Group LLC. raised its position in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Vertiv during the 3rd quarter valued at about $29,000. Finally, Global Trust Asset Management LLC purchased a new stake in Vertiv during the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 89.92% of the company’s stock.
Vertiv Stock Performance
The company has a market cap of $41.99 billion, a PE ratio of 109.34, a PEG ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The firm’s 50 day moving average is $92.92 and its 200-day moving average is $89.97.
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.
Recommended Stories
- Five stocks we like better than Vertiv
- What Does a Stock Split Mean?
- Texas Roadhouse Stock Steering for New Highs This Year
- What is the S&P 500 and How It is Distinct from Other Indexes
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- How Can Investors Benefit From After-Hours Trading
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
Receive News & Ratings for Vertiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertiv and related companies with MarketBeat.com's FREE daily email newsletter.