Vertiv (NYSE:VRT) Stock Price Up 2.4% After Analyst Upgrade

Posted by Defense World Staff on Sep 8th, 2023

Vertiv Holdings Co (NYSE:VRT – Get Free Report)’s share price shot up 2.4% on Thursday after Evercore ISI raised their price target on the stock from $40.00 to $50.00. Evercore ISI currently has an outperform rating on the stock. Vertiv traded as high as $39.38 and last traded at $39.38. 1,680,128 shares changed hands during trading, a decline of 65% from the average session volume of 4,789,162 shares. The stock had previously closed at $38.44.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group increased their target price on Vertiv from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday. Vertical Research raised shares of Vertiv from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. 22nd Century Group reaffirmed a “maintains” rating on shares of Vertiv in a report on Thursday, June 29th. TheStreet raised Vertiv from a “c” rating to a “b-” rating in a report on Wednesday, August 2nd. Finally, Citigroup lifted their target price on Vertiv from $21.00 to $29.00 in a research note on Friday, June 16th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Vertiv has a consensus rating of “Moderate Buy” and an average target price of $30.27.

Check Out Our Latest Stock Analysis on VRT

Insider Activity

In related news, Director Doherty Philip O’ sold 130,008 shares of Vertiv stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $24.07, for a total transaction of $3,129,292.56. Following the transaction, the director now directly owns 16,302,233 shares of the company’s stock, valued at $392,394,748.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Vpe Holdings, Llc sold 20,000,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $34.91, for a total transaction of $698,200,000.00. Following the completion of the sale, the director now owns 17,955,215 shares in the company, valued at approximately $626,816,555.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Doherty Philip O’ sold 130,008 shares of Vertiv stock in a transaction on Monday, June 26th. The stock was sold at an average price of $24.07, for a total value of $3,129,292.56. Following the completion of the transaction, the director now owns 16,302,233 shares in the company, valued at $392,394,748.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,081,184 shares of company stock worth $814,184,354. 5.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale acquired a new stake in Vertiv during the 1st quarter worth about $27,000. Clear Street Markets LLC acquired a new stake in shares of Vertiv during the fourth quarter valued at approximately $27,000. CI Investments Inc. lifted its position in shares of Vertiv by 986.4% in the 4th quarter. CI Investments Inc. now owns 2,162 shares of the company’s stock valued at $30,000 after acquiring an additional 1,963 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Vertiv by 648.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 2,500 shares of the company’s stock valued at $35,000 after acquiring an additional 2,166 shares in the last quarter. Finally, Stephens Inc. AR acquired a new position in Vertiv in the 2nd quarter worth approximately $64,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Performance

The firm’s 50-day simple moving average is $31.37 and its two-hundred day simple moving average is $21.54. The stock has a market capitalization of $15.07 billion, a PE ratio of 84.26 and a beta of 1.41. The company has a current ratio of 1.64, a quick ratio of 1.20 and a debt-to-equity ratio of 1.77.

Vertiv (NYSE:VRT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.17. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 31.02% and a net margin of 2.84%. Vertiv’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, equities research analysts expect that Vertiv Holdings Co will post 1.59 earnings per share for the current fiscal year.

Vertiv Company Profile

(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.