Citigroup Boosts Vertiv (NYSE:VRT) Price Target to $130.00

Vertiv (NYSE:VRT) had its target price upped by Citigroup from $98.00 to $130.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 11.32% from the stock’s previous close.

Several other equities research analysts have also issued reports on VRT. Roth Mkm assumed coverage on Vertiv in a research note on Tuesday, April 8th. They set a “buy” rating and a $75.00 price objective for the company. Cowen reissued a “buy” rating on shares of Vertiv in a report on Thursday, April 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $150.00 target price (up from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. Royal Bank Of Canada started coverage on shares of Vertiv in a research note on Friday, March 7th. They issued an “outperform” rating and a $121.00 price target for the company. Finally, Barclays decreased their price target on shares of Vertiv from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Friday, April 4th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.69.

Vertiv Stock Up 0.3%

VRT stock opened at $116.79 on Monday. The stock has a fifty day moving average of $96.45 and a 200-day moving average of $103.69. Vertiv has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The company has a market capitalization of $44.51 billion, a price-to-earnings ratio of 67.90, a PEG ratio of 1.21 and a beta of 1.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. As a group, equities research analysts predict that Vertiv will post 3.59 earnings per share for the current year.

Insider Activity at Vertiv

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the sale, the executive vice president now owns 9,551 shares of the company’s stock, valued at $1,106,292.33. This trade represents a 82.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karsten Winther sold 5,500 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider now owns 18,847 shares in the company, valued at $1,777,837.51. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by company insiders.

Institutional Trading of Vertiv

A number of institutional investors have recently modified their holdings of VRT. Empowered Funds LLC lifted its holdings in Vertiv by 67.0% in the 4th quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock worth $1,043,000 after buying an additional 3,682 shares during the period. Principal Securities Inc. raised its holdings in shares of Vertiv by 71.1% during the fourth quarter. Principal Securities Inc. now owns 5,128 shares of the company’s stock valued at $583,000 after acquiring an additional 2,131 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in Vertiv in the fourth quarter worth $298,000. Csenge Advisory Group purchased a new stake in Vertiv in the fourth quarter worth $2,037,000. Finally, Woodard & Co. Asset Management Group Inc. ADV bought a new stake in Vertiv in the fourth quarter valued at $712,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

About Vertiv

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.