Sapient Capital LLC Sells 45,518 Shares of GE Vernova Inc. $GEV

Sapient Capital LLC lowered its stake in GE Vernova Inc. (NYSE:GEV) by 44.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,850 shares of the company’s stock after selling 45,518 shares during the quarter. GE Vernova comprises 0.8% of Sapient Capital LLC’s portfolio, making the stock its 18th biggest holding. Sapient Capital LLC’s holdings in GE Vernova were worth $50,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Auto Owners Insurance Co increased its holdings in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares in the last quarter. Norges Bank purchased a new position in GE Vernova during the fourth quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its holdings in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of GE Vernova by 2,802.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after purchasing an additional 1,553,295 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of GE Vernova by 4,358.6% in the first quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company’s stock worth $1,316,076,000 after purchasing an additional 1,485,712 shares during the period.

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

GEV has been the subject of a number of analyst reports. Mizuho increased their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Oppenheimer lifted their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. TD Cowen increased their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Barclays raised their price target on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Trading Up 0.0%

Shares of GEV opened at $990.30 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a 50 day simple moving average of $1,028.05 and a two-hundred day simple moving average of $934.82. The firm has a market cap of $263.75 billion, a P/E ratio of 28.34, a price-to-earnings-growth ratio of 3.56 and a beta of 1.09.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same period last year, the firm posted $1.86 EPS. GE Vernova’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities analysts expect that GE Vernova Inc. will post 15.46 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.72%.

GE Vernova Company 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.