Vertiv (NYSE:VRT) Stock Price Down 4.5% – Here’s Why
by Danessa Lincoln · The Markets DailyVertiv Holdings Co. (NYSE:VRT – Get Free Report)’s share price fell 4.5% during mid-day trading on Friday . The stock traded as low as $185.60 and last traded at $186.24. 4,422,218 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 5,074,581 shares. The stock had previously closed at $195.10.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of Vertiv from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Wolfe Research cut shares of Vertiv from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 9th. Barclays upgraded Vertiv from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $181.00 to $200.00 in a report on Friday, January 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $195.00 target price (up from $162.00) on shares of Vertiv in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group lifted their price target on Vertiv from $182.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $187.89.
Read Our Latest Analysis on VRT
Vertiv Stock Performance
The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.43 and a current ratio of 1.83. The company has a market cap of $71.21 billion, a P/E ratio of 70.28, a P/E/G ratio of 1.19 and a beta of 2.06. The firm has a 50 day moving average price of $172.67 and a 200-day moving average price of $158.47.
Vertiv Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.1%. This is a boost from Vertiv’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, November 25th. Vertiv’s dividend payout ratio is 9.43%.
Insider Buying and Selling at Vertiv
In other news, EVP Stephen Liang sold 5,501 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $170.48, for a total value of $937,810.48. Following the completion of the sale, the executive vice president directly owned 4,050 shares in the company, valued at approximately $690,444. The trade was a 57.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.63% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Howard Capital Management Inc. lifted its stake in shares of Vertiv by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 1,837 shares of the company’s stock valued at $277,000 after purchasing an additional 54 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its position in Vertiv by 1.9% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,020 shares of the company’s stock valued at $456,000 after buying an additional 55 shares during the period. Waterfront Wealth Inc. increased its holdings in Vertiv by 2.5% in the fourth quarter. Waterfront Wealth Inc. now owns 2,253 shares of the company’s stock valued at $365,000 after buying an additional 56 shares in the last quarter. Balance Wealth LLC raised its position in shares of Vertiv by 2.8% in the fourth quarter. Balance Wealth LLC now owns 2,089 shares of the company’s stock worth $338,000 after acquiring an additional 57 shares during the period. Finally, Legacy Capital Group California Inc. raised its position in shares of Vertiv by 3.2% in the fourth quarter. Legacy Capital Group California Inc. now owns 1,859 shares of the company’s stock worth $301,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.
About Vertiv
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.