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

Corsair Capital Management L.P. cut its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 643,791 shares of the company’s stock after selling 5,058 shares during the quarter. Vertiv accounts for about 15.1% of Corsair Capital Management L.P.’s holdings, making the stock its biggest holding. Corsair Capital Management L.P.’s holdings in Vertiv were worth $64,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. ORG Partners LLC lifted its position in Vertiv by 25.1% during the third quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Vertiv by 18.6% in the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after acquiring an additional 100 shares during the last quarter. NBC Securities Inc. lifted its holdings in shares of Vertiv by 0.9% in the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock worth $1,305,000 after acquiring an additional 112 shares during the last quarter. Nvwm LLC lifted its holdings in shares of Vertiv by 1.3% in the 3rd quarter. Nvwm LLC now owns 10,035 shares of the company’s stock worth $998,000 after acquiring an additional 124 shares during the last quarter. Finally, Callan Family Office LLC lifted its holdings in shares of Vertiv by 0.9% in the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after acquiring an additional 137 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Vertiv Stock Up 0.0 %

Shares of Vertiv stock opened at $131.76 on Wednesday. The company’s fifty day simple moving average is $112.73 and its two-hundred day simple moving average is $95.67. The company has a market cap of $49.45 billion, a P/E ratio of 87.78, a PEG ratio of 1.36 and a beta of 1.58. 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 Holdings Co has a 12-month low of $41.01 and a 12-month high of $145.67.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. Research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current 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 given a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio is currently 6.67%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VRT shares. Oppenheimer boosted their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Citigroup upped their price target on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Mizuho upped their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Evercore ISI upped their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $138.50.

Insider Transactions at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jan Van Dokkum sold 38,647 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 in the company, valued at $3,409,750. This represents a 60.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,832 shares of company stock valued at $15,346,000 in the last three months. 5.01% of the stock is currently owned by company insiders.

About Vertiv

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.