Vertiv (NYSE:VRT) Price Target Increased to $140.00 by Analysts at Bank of America

Vertiv (NYSE:VRT) had its target price increased by Bank of America from $130.00 to $140.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI boosted their price target on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Mizuho raised their price target on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group dropped their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Oppenheimer raised their target price on shares of Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $122.11.

Vertiv Stock Up 0.9 %

VRT stock opened at $111.00 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The stock has a market capitalization of $41.55 billion, a P/E ratio of 105.82, a P/E/G ratio of 1.42 and a beta of 1.59. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41. The business has a 50-day moving average of $92.37 and a 200-day moving average of $89.83.

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

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is 9.62%.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VRT. Kingswood Wealth Advisors LLC acquired a new position in shares of Vertiv in the first quarter valued at approximately $496,000. Wealthcare Advisory Partners LLC increased its position in Vertiv by 2.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,794 shares of the company’s stock worth $1,127,000 after buying an additional 273 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of Vertiv by 666.7% during the first quarter. Independence Bank of Kentucky now owns 1,150 shares of the company’s stock worth $94,000 after buying an additional 1,000 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in shares of Vertiv in the first quarter valued at about $255,000. Finally, Atticus Wealth Management LLC bought a new position in Vertiv during the first quarter worth about $27,000. 89.92% of the stock is owned by institutional investors.

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.