Independence Bank of Kentucky Has $94,000 Stake in Vertiv Holdings Co (NYSE:VRT)

Independence Bank of Kentucky increased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 666.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,150 shares of the company’s stock after buying an additional 1,000 shares during the period. Independence Bank of Kentucky’s holdings in Vertiv were worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Vertiv in the fourth quarter valued at about $26,000. Raleigh Capital Management Inc. boosted its position in shares of Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after acquiring an additional 252 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Vertiv in the fourth quarter valued at about $38,000. Quadrant Capital Group LLC boosted its position in shares of Vertiv by 24.7% in the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after acquiring an additional 170 shares during the period. Finally, TFC Financial Management Inc. bought a new stake in shares of Vertiv in the fourth quarter valued at about $42,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VRT shares. Evercore ISI boosted their target price on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Oppenheimer upped their price objective on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Citigroup upped their price objective on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Vertiv from $103.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.11.

Insider Buying and Selling at Vertiv

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yibin Edward Cui sold 668 shares of the firm’s stock in a transaction that occurred on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total transaction of $63,052.52. Following the sale, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,162,739 shares of company stock valued at $400,713,362. 5.01% of the stock is currently owned by company insiders.

Vertiv Trading Down 0.4 %

Shares of Vertiv stock traded down $0.31 on Friday, hitting $86.57. The stock had a trading volume of 23,351,582 shares, compared to its average volume of 10,070,432. The stock has a 50 day moving average of $94.05 and a 200 day moving average of $74.23. Vertiv Holdings Co has a twelve month low of $23.51 and a twelve month high of $109.27. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market capitalization of $32.41 billion, a P/E ratio of 83.19, a PEG ratio of 1.26 and a beta of 1.56.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Vertiv Holdings Co will post 2.43 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s dividend payout ratio is presently 9.62%.

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.