Capital International Sarl Increases Stock Holdings in GE Vernova Inc. $GEV

Capital International Sarl increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 25.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,368 shares of the company’s stock after purchasing an additional 10,601 shares during the quarter. Capital International Sarl’s holdings in GE Vernova were worth $32,201,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. lifted its holdings in shares of GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares during the period. Vestmark Advisory Solutions Inc. acquired a new stake in shares of GE Vernova in the second quarter worth approximately $212,000. Prospera Financial Services Inc grew its holdings in GE Vernova by 113.0% in the second quarter. Prospera Financial Services Inc now owns 6,760 shares of the company’s stock valued at $3,581,000 after purchasing an additional 3,587 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in GE Vernova by 92.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,982 shares of the company’s stock worth $3,165,000 after purchasing an additional 2,879 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Erste Group Bank began coverage on shares of GE Vernova in a research note on Thursday, March 5th. They set a “buy” rating for the company. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. UBS Group reissued a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Bank of America raised their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $831.29.

GE Vernova Price Performance

Shares of GEV opened at $829.66 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93. The stock’s 50-day moving average is $746.41 and its two-hundred day moving average is $658.06. The stock has a market cap of $223.62 billion, a PE ratio of 46.61, a P/E/G ratio of 3.14 and a beta of 1.44.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s payout ratio is presently 11.24%.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.