Capital International Investors Lowers Position in GE Vernova Inc. $GEV

Capital International Investors reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 32.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 owned approximately 1.87% of GE Vernova worth $3,118,446,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. boosted its stake in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Bay Harbor Wealth Management LLC increased its holdings 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 valued at $31,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the period. Deseret Mutual Benefit Administrators grew its position in GE Vernova by 112.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after buying an additional 28 shares during the period. Finally, Howard Hughes Medical Institute purchased a new position in GE Vernova in the second quarter valued at about $31,000.

GE Vernova Stock Up 5.1%

GEV opened at $829.66 on Tuesday. The firm 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 firm’s 50 day moving average is $746.41 and its 200-day moving average is $658.06. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GEV shares. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Wells Fargo & Company boosted their price target on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Barclays reaffirmed an “overweight” rating and issued a $849.00 target price on shares of GE Vernova in a research note on Monday, February 2nd. 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 data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $831.29.

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.