Stock Yards Bank & Trust Co. Takes Position in Vertiv Holdings Co (NYSE:VRT)

Stock Yards Bank & Trust Co. purchased a new position in Vertiv Holdings Co (NYSE:VRT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,871 shares of the company's stock, valued at approximately $207,000.

Several other hedge funds also recently bought and sold shares of VRT. New England Research & Management Inc. purchased a new position in shares of Vertiv during the 1st quarter valued at $740,000. Elevation Point Wealth Partners LLC boosted its stake in Vertiv by 7.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 11,863 shares of the company's stock valued at $857,000 after buying an additional 779 shares during the period. Opinicus Capital Inc. purchased a new position in Vertiv during the first quarter worth about $526,000. Smithbridge Asset Management Inc. DE bought a new position in Vertiv in the 1st quarter worth about $9,574,000. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Vertiv by 31.4% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 6,704 shares of the company's stock valued at $484,000 after acquiring an additional 1,602 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the sale, the insider now owns 18,847 shares of the company's stock, valued at $1,777,837.51. This represents a 22.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $5,059,801.89. Following the sale, the executive vice president now owns 9,551 shares of the company's stock, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.63% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup boosted their price objective on Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a report on Monday. JPMorgan Chase & Co. increased their price target on shares of Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. KGI Securities assumed coverage on shares of Vertiv in a research report on Thursday, April 24th. They set a "hold" rating on the stock. Roth Capital upgraded shares of Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Royal Bank of Canada began coverage on Vertiv in a research note on Friday, March 7th. They issued an "outperform" rating and a $121.00 target price on the stock. Five equities research 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 company. According to MarketBeat.com, Vertiv currently has an average rating of "Moderate Buy" and an average target price of $126.69.

Vertiv Trading Up 5.0%

Shares of VRT stock traded up $5.54 during trading hours on Monday, reaching $116.51. The company's stock had a trading volume of 7,540,540 shares, compared to its average volume of 8,709,194. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a one year low of $53.60 and a one year high of $155.84. The stock has a market capitalization of $44.40 billion, a P/E ratio of 91.02, a P/E/G ratio of 1.07 and a beta of 1.73. The firm's fifty day simple moving average is $94.49 and its 200 day simple moving average is $103.67.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $0.43 EPS. The business's revenue was up 24.2% compared to the same quarter last year. Equities research analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th will be given a $0.0375 dividend. This represents a yield of 0.14%. The ex-dividend date of this dividend is Monday, June 16th. This is an increase from Vertiv's previous dividend of $0.01. Vertiv's payout ratio is 8.72%.

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.