Vertiv (NYSE:VRT) Trading 3.2% Higher After Earnings Beat

Vertiv Holdings Co (NYSE:VRT)’s stock price was up 3.2% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $111.89 and last traded at $111.87. Approximately 2,386,511 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 8,359,279 shares. The stock had previously closed at $108.36.

The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company posted $0.52 earnings per share. Vertiv’s revenue for the quarter was up 19.0% on a year-over-year basis.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date 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 (DPR) is 9.62%.

Wall Street Analysts Forecast Growth

VRT has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho raised their price target on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen boosted their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group started coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Oppenheimer boosted their price objective on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $117.89.

Insider Transactions at Vertiv

In other 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 transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC lifted its stake in shares of Vertiv by 25.1% in the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP lifted its position in Vertiv by 18.6% in the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after buying an additional 100 shares during the last quarter. NBC Securities Inc. lifted its position in Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after buying an additional 112 shares during the last quarter. Callan Family Office LLC boosted its stake in Vertiv by 0.9% during the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after buying an additional 137 shares during the period. Finally, Optimum Investment Advisors increased its position in shares of Vertiv by 11.1% during the third quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock valued at $149,000 after acquiring an additional 150 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Stock Performance

The firm’s fifty day moving average price is $92.37 and its 200 day moving average price is $89.83. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $41.88 billion, a price-to-earnings ratio of 107.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59.

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.