Vertiv Holdings Co (NYSE:VRT – Get Rating)’s share price gapped down prior to trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $18.00 to $16.00. The stock had previously closed at $13.42, but opened at $13.04. The Goldman Sachs Group currently has a buy rating on the stock. Vertiv shares last traded at $13.15, with a volume of 5,447 shares traded.
Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Vertiv from $31.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. TheStreet downgraded shares of Vertiv from a “c-” rating to a “d” rating in a research note on Wednesday, February 23rd. Cowen downgraded shares of Vertiv from an “outperform” rating to a “market perform” rating and set a $11.50 price target for the company. in a research note on Thursday, February 24th. Citigroup began coverage on shares of Vertiv in a research note on Friday, November 26th. They issued a “buy” rating and a $33.00 price target for the company. Finally, Bank of America downgraded shares of Vertiv from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Wednesday, February 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Vertiv presently has a consensus rating of “Hold” and an average target price of $20.35.
In other news, EVP Patrick R. Johnson purchased 10,000 shares of the business’s stock in a transaction dated Thursday, March 3rd. The shares were purchased at an average price of $11.50 per share, for a total transaction of $115,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick R. Johnson purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were purchased at an average price of $12.39 per share, for a total transaction of $185,850.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 38,000 shares of company stock worth $475,960. Corporate insiders own 5.06% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Vertiv by 12.6% in the fourth quarter. BlackRock Inc. now owns 14,295,100 shares of the company’s stock worth $356,949,000 after acquiring an additional 1,596,381 shares during the period. Boston Partners raised its position in shares of Vertiv by 16.7% during the 4th quarter. Boston Partners now owns 11,693,371 shares of the company’s stock valued at $291,677,000 after purchasing an additional 1,674,611 shares during the period. American Century Companies Inc. raised its position in shares of Vertiv by 5.5% during the 4th quarter. American Century Companies Inc. now owns 11,035,741 shares of the company’s stock valued at $275,562,000 after purchasing an additional 575,439 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Vertiv by 118.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,319,047 shares of the company’s stock valued at $257,667,000 after purchasing an additional 5,597,221 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of Vertiv by 21.2% during the 4th quarter. Schroder Investment Management Group now owns 10,295,257 shares of the company’s stock valued at $257,073,000 after purchasing an additional 1,798,481 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.
The stock has a market capitalization of $4.94 billion, a P/E ratio of 40.67, a P/E/G ratio of 1.36 and a beta of 1.13. The company’s 50-day moving average price is $17.56 and its 200 day moving average price is $22.27. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.12 and a current ratio of 1.45.
Vertiv (NYSE:VRT – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.24). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Vertiv had a net margin of 2.39% and a return on equity of 30.27%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. Analysts predict that Vertiv Holdings Co will post 0.6 earnings per share for the current year.
About Vertiv (NYSE:VRT)
Vertiv Holdings Co engages in the design, manufacturing, and service of critical digital infrastructure technology that powers, cools, deploys, secures and maintains electronics that process, store and transmit data. It also offers power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure.
