Vertiv (NYSE:VRT) Price Target Raised to $115.00

Vertiv (NYSE:VRT) had its target price boosted by TD Cowen from $93.00 to $115.00 in a research note issued to investors on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on VRT. Evercore ISI upped their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Oppenheimer upped their price target on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Bank of America boosted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $122.11.

Vertiv Stock Up 1.9 %

Shares of NYSE:VRT opened at $112.17 on Thursday. The firm has a market capitalization of $42.08 billion, a P/E ratio of 87.63, a P/E/G ratio of 1.47 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 stock has a 50 day moving average price of $93.57 and a 200-day moving average price of $90.23. Vertiv has a 52-week low of $34.60 and a 52-week high of $116.41.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, equities research analysts anticipate that Vertiv will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.09%. Vertiv’s payout ratio is presently 7.81%.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vertiv

Several hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC bought a new stake in Vertiv during the 2nd quarter valued at about $26,000. Atticus Wealth Management LLC purchased a new position in Vertiv during the first quarter valued at approximately $27,000. Mather Group LLC. boosted its position in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Vertiv during the third quarter worth $29,000. Finally, Global Trust Asset Management LLC acquired a new stake in Vertiv in the 3rd quarter worth approximately $30,000. Institutional investors own 89.92% of the company’s stock.

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.