Vertiv (NYSE:VRT) Trading Down 3.2% – Here’s What Happened

Shares of Vertiv Holdings Co (NYSE:VRT) fell 3.2% during mid-day trading on Monday . The company traded as low as $105.00 and last traded at $113.25. 5,526,042 shares were traded during mid-day trading, a decline of 46% from the average session volume of 10,325,267 shares. The stock had previously closed at $117.02.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Citigroup boosted their price target on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI reduced their target price on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Morgan Stanley began coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 price target on the stock. Finally, Melius cut shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Vertiv Stock Up 7.0 %

The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The business has a 50 day moving average of $124.83 and a 200 day moving average of $106.69. The firm has a market capitalization of $44.67 billion, a price-to-earnings ratio of 79.33, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s payout ratio is 6.67%.

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now owns 3,425 shares in the company, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,527 shares of company stock worth $23,105,682. Company insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several institutional investors have recently modified their holdings of VRT. Smartleaf Asset Management LLC increased its holdings in shares of Vertiv by 91.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,240 shares of the company’s stock worth $144,000 after acquiring an additional 592 shares in the last quarter. Nixon Peabody Trust Co. acquired a new stake in Vertiv in the 4th quarter valued at $4,975,000. Chase Investment Counsel Corp raised its holdings in Vertiv by 2.9% during the fourth quarter. Chase Investment Counsel Corp now owns 64,082 shares of the company’s stock worth $7,280,000 after acquiring an additional 1,793 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Vertiv by 7.1% in the 4th quarter. Metis Global Partners LLC now owns 4,931 shares of the company’s stock valued at $560,000 after buying an additional 329 shares during the last quarter. Finally, West Michigan Advisors LLC bought a new position in shares of Vertiv in the 4th quarter valued at about $275,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

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.