Vertiv (NYSE:VRT) Trading Down 12.2% - Here's What Happened
Vertiv Holdings Co (NYSE:VRT) experienced a significant drop in share price, falling 12.2% to $67.74 during mid-day trading. The trading volume was notably lower, at 4.42 million shares, compared to the average of 8.77 million. Analysts have mixed opinions, with Citigroup raising its price target to $155 and maintaining a 'buy' rating, while others have set targets ranging from $121 to $150. Vertiv's market cap stands at $25.71 billion, with a P/E ratio of 52.74 and a recent quarterly EPS of $0.99, exceeding estimates.
Vertiv Holdings Co (NYSE:VRT - Get Free Report)'s share price fell 12.2% during mid-day trading on Thursday . The company traded as low as $67.40 and last traded at $67.74. 4,419,999 shares were traded during trading, a decline of 50% from the average session volume of 8,772,009 shares. The stock had previously closed at $77.11.
Wall Street Analyst Weigh In
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A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Vertiv from $141.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. 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 price target for the company. Fox Advisors started coverage on Vertiv in a research report on Monday, January 6th. They set an "equal weight" rating on the stock. Melius Research reaffirmed a "hold" rating and issued a $125.00 price objective on shares of Vertiv in a research note on Tuesday, January 28th. Finally, Morgan Stanley started coverage on Vertiv in a research report on Monday, January 6th. They set an "overweight" rating and a $150.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Vertiv presently has a consensus rating of "Moderate Buy" and an average target price of $135.33.
View Our Latest Report on Vertiv
Vertiv Stock Down 12.5 %
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The company has a market cap of $25.71 billion, a P/E ratio of 52.74, a price-to-earnings-growth ratio of 1.07 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The business's fifty day moving average is $98.69 and its two-hundred day moving average is $111.27.
Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Equities analysts predict that Vertiv Holdings Co will post 3.59 EPS for the current year.
Vertiv Dividend Announcement
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.22%. Vertiv's payout ratio is currently 11.72%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. SOA Wealth Advisors LLC. purchased a new position in Vertiv during the fourth quarter valued at approximately $26,000. OLD Second National Bank of Aurora purchased a new position in shares of Vertiv in the 4th quarter valued at $30,000. Tradewinds Capital Management LLC raised its position in shares of Vertiv by 61.3% in the 4th quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock worth $33,000 after acquiring an additional 111 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Vertiv in the fourth quarter worth about $34,000. Finally, Pittenger & Anderson Inc. lifted its position in shares of Vertiv by 92.0% during the fourth quarter. Pittenger & Anderson Inc. now owns 313 shares of the company's stock valued at $36,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.
About Vertiv
(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.
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