Vertiv Holdings Co Plans Quarterly Dividend of $0.03 (NYSE:VRT)

Vertiv Holdings Co (NYSE:VRT) declared a quarterly dividend on Wednesday, June 5th, Wall Street Journal reports. Stockholders of record on Monday, June 17th will be given a dividend of 0.025 per share on Wednesday, June 26th. This represents a $0.10 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Monday, June 17th.

Vertiv has raised its dividend payment by an average of 35.7% per year over the last three years and has increased its dividend every year for the last 1 years. Vertiv has a payout ratio of 3.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vertiv to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 3.2%.

Vertiv Price Performance

Shares of VRT stock traded up $4.99 during trading hours on Wednesday, reaching $97.08. The stock had a trading volume of 9,532,126 shares, compared to its average volume of 8,186,837. The stock’s fifty day simple moving average is $90.97 and its 200 day simple moving average is $68.76. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09. Vertiv has a 12 month low of $19.82 and a 12 month high of $109.27. The firm has a market capitalization of $36.34 billion, a PE ratio of 93.25, a PEG ratio of 1.40 and a beta of 1.56.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the business earned $0.24 earnings per share. Vertiv’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Vertiv will post 2.42 EPS for the current year.

Insiders Place Their Bets

In other Vertiv news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares of the company’s stock, valued at $1,836,074.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Vertiv news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares of the company’s stock, valued at $1,836,074.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Insiders sold 4,219,333 shares of company stock valued at $404,717,953 over the last three months. 5.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VRT shares. Citigroup raised their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Oppenheimer lifted their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Evercore ISI lifted their target price on shares of Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their target price on shares of Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

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.