Vertiv Holdings Co (NYSE:VRT) Increases Dividend to $0.04 Per Share

Vertiv Holdings Co (NYSE:VRT) declared a quarterly dividend on Monday, November 18th,RTT News reports. Stockholders of record on Tuesday, December 3rd will be paid a dividend of 0.0375 per share on Thursday, December 19th. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03.

Vertiv has raised its dividend by an average of 35.7% per year over the last three years. Vertiv has a payout ratio of 4.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Vertiv to earn $3.58 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 4.2%.

Vertiv Stock Performance

Shares of VRT stock opened at $127.60 on Monday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a market capitalization of $47.89 billion, a price-to-earnings ratio of 85.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. Vertiv has a one year low of $42.50 and a one year high of $145.67. The company has a 50 day moving average price of $114.87 and a 200 day moving average price of $96.26.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. Sell-side analysts anticipate that Vertiv will post 2.69 EPS for the current year.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now owns 3,425 shares in the company, valued at $470,526.50. This trade represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,451 shares of company stock worth $26,699,153 in the last quarter. 5.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VRT has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. UBS Group assumed coverage on shares of Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective for the company. Citigroup raised their target price on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. TD Cowen upped their price target on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer increased their price target on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv presently has an average rating of “Buy” and an average target price of $138.50.

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.