GE Vernova Inc. $GEV Stake Lowered by Capital International Investors

Capital International Investors cut its stake in GE Vernova Inc. (NYSE:GEV) by 32.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,073,899 shares of the company’s stock after selling 2,401,367 shares during the period. Capital International Investors’ holdings in GE Vernova were worth $3,118,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. boosted its position in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. Bay Harbor Wealth Management LLC lifted its stake in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Elevation Wealth Partners LLC raised its holdings in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of GE Vernova by 112.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. Finally, Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova in the second quarter valued at $31,000.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. TD Cowen increased their target price on shares of GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Barclays reiterated an “overweight” rating and issued a $849.00 target price on shares of GE Vernova in a report on Monday, February 2nd. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Evercore upped their price target on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Finally, Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $829.66 on Tuesday. The stock has a market capitalization of $223.62 billion, a P/E ratio of 46.61, a P/E/G ratio of 3.14 and a beta of 1.44. The business has a 50-day moving average of $746.41 and a two-hundred day moving average of $658.06. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93.

GE Vernova (NYSE:GEV) last announced its quarterly 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 company 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 for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 earnings per share. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) 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.