Vertiv Holdings Co (NYSE:VRT) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in Vertiv Holdings Co (NYSE:VRT) by 17.5% in the 4th quarter, Holdings Channel reports. The firm owned 27,165 shares of the company’s stock after acquiring an additional 4,045 shares during the quarter. Independence Bank of Kentucky’s holdings in Vertiv were worth $3,086,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora purchased a new stake in shares of Vertiv in the fourth quarter valued at approximately $30,000. Krane Funds Advisors LLC acquired a new position in Vertiv during the third quarter worth $29,000. Anchor Investment Management LLC purchased a new stake in Vertiv in the 2nd quarter valued at $26,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the 3rd quarter worth $30,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan Van Dokkum sold 38,647 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $3,409,750. This trade represents a 60.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock worth $23,105,682 in the last ninety days. 5.01% of the stock is owned by corporate insiders.

Vertiv Stock Performance

NYSE VRT opened at $117.14 on Friday. The company has a market cap of $43.97 billion, a P/E ratio of 78.10, a P/E/G ratio of 0.86 and a beta of 1.63. Vertiv Holdings Co has a 1-year low of $55.00 and a 1-year high of $155.84. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock has a 50-day moving average of $125.62 and a two-hundred day moving average of $106.01.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s dividend payout ratio is presently 6.67%.

Analysts Set New Price Targets

VRT has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Oppenheimer lifted their price target on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Fox Advisors initiated coverage on Vertiv in a research report on Monday, January 6th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and an average price target of $139.36.

Vertiv 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.