Vertiv (NYSE:VRT) Stock Price Up 1.8% After Analyst Upgrade

Vertiv Holdings Co (NYSE:VRT)’s stock price shot up 1.8% during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $106.00 to $122.00. The Goldman Sachs Group currently has a buy rating on the stock. Vertiv traded as high as $110.61 and last traded at $110.47. 1,375,014 shares traded hands during trading, a decline of 84% from the average session volume of 8,713,347 shares. The stock had previously closed at $108.47.

VRT has been the topic of several other reports. Royal Bank of Canada started coverage on Vertiv in a research report on Friday, March 7th. They issued an “outperform” rating and a $121.00 target price on the stock. Cowen reissued a “buy” rating on shares of Vertiv in a research note on Thursday, April 24th. Morgan Stanley dropped their price objective on Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Roth Capital upgraded shares of Vertiv to a “strong-buy” rating in a research note on Monday, April 7th. Finally, Roth Mkm started coverage on shares of Vertiv in a research report on Tuesday, April 8th. They issued a “buy” rating and a $75.00 target price for the company. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.69.

Insider Buying and Selling

In related news, EVP Stephen Liang sold 43,683 shares of Vertiv 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 transaction, the executive vice president now owns 9,551 shares in the company, 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 SEC, which is available through this link. Also, insider Karsten Winther sold 5,500 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the transaction, the insider now directly owns 18,847 shares of the company’s stock, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Vertiv

Several large investors have recently made changes to their positions in VRT. GW&K Investment Management LLC bought a new position in Vertiv in the 1st quarter worth approximately $26,000. SouthState Corp acquired a new stake in shares of Vertiv in the first quarter worth $27,000. North Star Investment Management Corp. increased its position in Vertiv by 4,120.0% during the first quarter. North Star Investment Management Corp. now owns 422 shares of the company’s stock worth $30,000 after acquiring an additional 412 shares during the period. Sachetta LLC raised its stake in Vertiv by 242.0% during the 1st quarter. Sachetta LLC now owns 448 shares of the company’s stock valued at $32,000 after purchasing an additional 317 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its holdings in Vertiv by 61.3% in the 4th quarter. Tradewinds Capital Management LLC now owns 292 shares of the company’s stock valued at $33,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Trading Up 1.8%

The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $42.10 billion, a P/E ratio of 86.30, a P/E/G ratio of 1.07 and a beta of 1.73. The business’s fifty day simple moving average is $91.50 and its two-hundred day simple moving average is $104.22.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. As a group, analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

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.