Vertiv (NYSE:VRT) Stock Price Down 0.1% After Insider Selling

Vertiv Holdings Co (NYSE:VRTGet Free Report)’s stock price was down 0.1% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $103.18 and last traded at $105.06. Approximately 1,869,330 shares traded hands during trading, a decline of 77% from the average daily volume of 7,993,090 shares. The stock had previously closed at $105.16.

Specifically, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Doherty Philip O’ sold 2,511,295 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $93.64, for a total value of $235,157,663.80. Following the completion of the sale, the director now owns 9,324,181 shares in the company, valued at approximately $873,116,308.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,516,000 shares of company stock valued at $425,183,641. Company insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on VRT. Evercore ISI upped their price target on Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Citigroup boosted their price target on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Bank of America upped their price objective on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group increased their target price on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a report on Friday, May 17th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Check Out Our Latest Analysis on VRT

Vertiv Trading Down 0.8 %

The company has a 50 day moving average price of $89.28 and a 200 day moving average price of $66.82. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market cap of $39.04 billion, a price-to-earnings ratio of 101.02, a price-to-earnings-growth ratio of 1.55 and a beta of 1.55.

Vertiv (NYSE:VRTGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. Vertiv’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, research analysts expect that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is currently 9.62%.

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently modified their holdings of the stock. Bogart Wealth LLC purchased a new stake in shares of Vertiv in the first quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new stake in shares of Vertiv during the 4th quarter worth $26,000. Raleigh Capital Management Inc. increased its holdings in shares of Vertiv by 79.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in shares of Vertiv in the first quarter valued at about $27,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of Vertiv in the first quarter valued at about $34,000. 89.92% of the stock is owned by institutional investors and hedge funds.

About Vertiv

(Get Free Report)

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.

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