Evercore ISI Increases Vertiv (NYSE:VRT) Price Target to $135.00

Vertiv (NYSE:VRT) had its target price raised by Evercore ISI from $125.00 to $135.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on the stock. Oppenheimer upped their price objective on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup raised their price target on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho boosted their price objective on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Jefferies Financial Group began coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv has an average rating of “Buy” and a consensus price target of $122.11.

Vertiv Stock Performance

Shares of VRT opened at $111.00 on Thursday. The stock has a 50-day moving average of $92.37 and a 200-day moving average of $89.83. Vertiv has a one year low of $34.60 and a one year high of $116.41. 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 company has a market cap of $41.55 billion, a PE ratio of 105.82, a P/E/G ratio of 1.42 and a beta of 1.59.

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

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.025 dividend. 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 payout ratio is presently 9.62%.

Insider Activity at Vertiv

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

Institutional Investors Weigh In On Vertiv

A number of hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC bought a new position in Vertiv during the second quarter valued at about $26,000. Atticus Wealth Management LLC purchased a new position in Vertiv in the first quarter valued at about $27,000. Mather Group LLC. grew 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 valued at $29,000 after acquiring an additional 200 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the 3rd quarter worth approximately $29,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Vertiv during the 3rd quarter worth approximately $30,000. 89.92% of the stock is currently owned by institutional investors.

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.