Vertiv (NYSE:VRT) Stock Price Down 4.2% After Insider Selling

Vertiv Holdings Co (NYSE:VRT)’s stock price fell 4.2% during trading on Wednesday following insider selling activity. The stock traded as low as $88.94 and last traded at $89.09. 3,250,794 shares were traded during trading, a decline of 60% from the average session volume of 8,197,062 shares. The stock had previously closed at $93.00.

Specifically, CAO Scott Cripps sold 56,594 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Doherty Philip O’ sold 488,705 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the completion of the transaction, the director now owns 11,835,476 shares in the company, valued at $1,108,747,391.68. The disclosure for this sale can be found here. Insiders have sold 3,362,790 shares of company stock worth $306,451,347 over the last ninety days. Company insiders own 5.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VRT shares. JPMorgan Chase & Co. increased their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Evercore ISI increased their price objective on shares of Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Mizuho increased their price objective on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Bank of America increased their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Citigroup increased their price objective on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.11.

Vertiv Trading Down 4.8 %

The firm has a market cap of $33.82 billion, a P/E ratio of 85.14, a P/E/G ratio of 1.43 and a beta of 1.59. The business’s 50-day moving average is $78.37 and its two-hundred day moving average is $58.67. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 1.35.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. As a group, analysts predict that Vertiv Holdings Co will post 2.42 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is presently 9.62%.

Institutional Trading of Vertiv

A number of hedge funds have recently modified their holdings of the stock. Capstone Investment Advisors LLC acquired a new stake in shares of Vertiv during the 1st quarter worth about $601,000. Janney Montgomery Scott LLC raised its stake in Vertiv by 335.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 36,508 shares of the company’s stock worth $2,982,000 after purchasing an additional 28,118 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Vertiv by 838.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 137,977 shares of the company’s stock worth $11,269,000 after purchasing an additional 123,271 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in Vertiv in the 1st quarter worth about $535,000. Finally, Private Advisor Group LLC raised its stake in Vertiv by 40.1% in the 1st quarter. Private Advisor Group LLC now owns 29,703 shares of the company’s stock worth $2,426,000 after purchasing an additional 8,504 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.