Capital International Sarl Raises Stake in GE Vernova Inc. $GEV

Capital International Sarl lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 25.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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.

Other large investors have also made changes to their positions in the company. Capital International Ltd. CA lifted its stake in shares of GE Vernova by 94.1% in the third quarter. Capital International Ltd. CA now owns 20,437 shares of the company’s stock valued at $12,567,000 after purchasing an additional 9,910 shares during the period. Capital Group Investment Management PTE. LTD. grew its position in GE Vernova by 100.2% during the third quarter. Capital Group Investment Management PTE. LTD. now owns 3,895 shares of the company’s stock worth $2,395,000 after buying an additional 1,949 shares during the period. Bank of Montreal Can increased its holdings in GE Vernova by 10.5% in the third quarter. Bank of Montreal Can now owns 377,325 shares of the company’s stock valued at $232,017,000 after buying an additional 35,772 shares in the last quarter. Legal & General Group Plc lifted its position in shares of GE Vernova by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 1,652,711 shares of the company’s stock valued at $1,016,252,000 after acquiring an additional 20,748 shares during the period. Finally, Banque Cantonale Vaudoise lifted its position in shares of GE Vernova by 1.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 8,341 shares of the company’s stock valued at $5,130,000 after acquiring an additional 104 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $829.66 on Tuesday. The business’s fifty day moving average price is $746.41 and its two-hundred day moving average price is $658.06. The stock has a market cap of $223.62 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 earnings per share. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GEV. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Jefferies Financial Group reissued a “buy” rating and issued a $930.00 target price on shares of GE Vernova in a report on Thursday, January 29th. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Finally, Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $831.29.

About GE Vernova

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.