Independence Bank of Kentucky Purchases 25,608 Shares of Vertiv Holdings Co (NYSE:VRT)

Independence Bank of Kentucky lifted its position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 94.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,773 shares of the company's stock after purchasing an additional 25,608 shares during the quarter. Independence Bank of Kentucky's holdings in Vertiv were worth $3,810,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VRT. Vanguard Group Inc. raised its holdings in shares of Vertiv by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after acquiring an additional 1,244,780 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Vertiv by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock worth $688,260,000 after purchasing an additional 99,181 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv in the fourth quarter valued at approximately $597,379,000. Wellington Management Group LLP lifted its holdings in shares of Vertiv by 25.3% in the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after purchasing an additional 990,361 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Vertiv by 4.8% during the fourth quarter. Clearbridge Investments LLC now owns 3,647,326 shares of the company's stock valued at $414,373,000 after buying an additional 167,061 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VRT has been the topic of several recent analyst reports. Roth Mkm started coverage on Vertiv in a research note on Tuesday, April 8th. They set a "buy" rating and a $75.00 price objective on the stock. Barclays lowered their target price on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Royal Bank of Canada initiated coverage on shares of Vertiv in a report on Friday, March 7th. They set an "outperform" rating and a $121.00 price target on the stock. Evercore ISI reiterated an "outperform" rating and issued a $150.00 price objective (up previously from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. boosted their target price on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $122.38.

Insider Transactions at Vertiv

In related news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the transaction, the executive vice president now owns 9,551 shares of the company's stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider now directly owns 18,847 shares in the company, valued at $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company's stock.

Vertiv Stock Up 2.9%

VRT opened at $115.47 on Friday. The stock has a market cap of $44.01 billion, a price-to-earnings ratio of 90.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70. 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 firm's fifty day moving average is $89.98 and its 200 day moving average is $104.87. Vertiv Holdings Co has a fifty-two week low of $53.60 and a fifty-two week high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The company's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. On average, sell-side analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

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.

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