Independence Bank of Kentucky Buys 4,045 Shares of Vertiv Holdings Co (NYSE:VRT)

Independence Bank of Kentucky boosted its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,165 shares of the company’s stock after buying an additional 4,045 shares during the quarter. Independence Bank of Kentucky’s holdings in Vertiv were worth $3,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in shares of Vertiv by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company’s stock valued at $128,000 after buying an additional 84 shares in the last quarter. Accurate Wealth Management LLC boosted its stake in Vertiv by 4.1% in the fourth quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock valued at $254,000 after acquiring an additional 87 shares in the last quarter. ORG Partners LLC grew its holdings in Vertiv by 25.1% in the third quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP increased its position in shares of Vertiv by 18.6% during the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after purchasing an additional 100 shares in the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of Vertiv by 0.9% during the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Insider Activity

In other news, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now owns 3,425 shares in the company, valued at $470,526.50. This trade represents a 81.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock valued at $23,105,682 in the last three months. 5.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on VRT. Bank of America boosted their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Finally, Melius Research reissued a “hold” rating and issued a $125.00 target price on shares of Vertiv in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

Vertiv Stock Up 2.2 %

Vertiv stock opened at $117.14 on Friday. The business’s 50-day moving average price is $125.62 and its 200 day moving average price is $106.01. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a market cap of $43.97 billion, a price-to-earnings ratio of 78.10, a price-to-earnings-growth ratio of 0.86 and a beta of 1.63. Vertiv Holdings Co has a 52 week low of $55.00 and a 52 week high of $155.84.

Vertiv Increases Dividend

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

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.