Vertiv (NYSE:VRT) Shares Up 0.7% After Strong Earnings

Vertiv Holdings Co (NYSE:VRT)’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

A number of research firms have recently issued reports on VRT. Citigroup increased their price objective on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI increased their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Mizuho increased their price objective on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Oppenheimer raised their target price on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and an average target price of $122.11.

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.