Corsair Capital Management L.P. Has $64.05 Million Stake in Vertiv Holdings Co (NYSE:VRT)

Corsair Capital Management L.P. lessened its position in Vertiv Holdings Co (NYSE:VRT) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 643,791 shares of the company’s stock after selling 5,058 shares during the period. Vertiv comprises about 15.1% of Corsair Capital Management L.P.’s portfolio, making the stock its largest holding. Corsair Capital Management L.P. owned 0.17% of Vertiv worth $64,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bayesian Capital Management LP bought a new stake in shares of Vertiv during the 1st quarter worth about $456,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Vertiv during the 1st quarter worth about $3,018,000. California State Teachers Retirement System boosted its holdings in shares of Vertiv by 5.8% during the 1st quarter. California State Teachers Retirement System now owns 579,672 shares of the company’s stock worth $47,342,000 after buying an additional 31,839 shares during the period. Redwood Investment Management LLC bought a new stake in shares of Vertiv during the 1st quarter worth about $638,000. Finally, Comerica Bank boosted its holdings in shares of Vertiv by 29.4% during the 1st quarter. Comerica Bank now owns 436,413 shares of the company’s stock worth $35,642,000 after buying an additional 99,269 shares during the period. Institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

VRT has been the subject of several analyst reports. TD Cowen lifted their price objective on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Bank of America lifted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Citigroup lifted their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and a consensus price target of $138.50.

Insider Transactions at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the transaction, the insider now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,832 shares of company stock worth $15,346,000 over the last quarter. Corporate insiders own 5.01% of the company’s stock.

Vertiv Stock Up 0.0 %

Vertiv stock opened at $131.76 on Wednesday. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67. The firm has a market capitalization of $49.45 billion, a price-to-earnings ratio of 87.78, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58. The firm’s fifty day moving average price is $112.73 and its two-hundred day moving average price is $95.67. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. 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.