Capital Research Global Investors Lowers Stake in GE Vernova Inc. (NYSE:GEV)

Capital Research Global Investors cut its stake in GE Vernova Inc. (NYSE:GEV) by 43.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 732,719 shares of the company’s stock after selling 565,681 shares during the period. Capital Research Global Investors’ holdings in GE Vernova were worth $241,013,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Howard Capital Management Group LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at about $213,000. Virtu Financial LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $1,481,000. Westside Investment Management Inc. boosted its stake in shares of GE Vernova by 24.0% in the 3rd quarter. Westside Investment Management Inc. now owns 362 shares of the company’s stock valued at $92,000 after purchasing an additional 70 shares in the last quarter. Fulcrum Equity Management bought a new position in shares of GE Vernova during the 3rd quarter valued at $218,000. Finally, World Investment Advisors LLC raised its position in GE Vernova by 41.4% in the 3rd quarter. World Investment Advisors LLC now owns 2,876 shares of the company’s stock worth $733,000 after purchasing an additional 842 shares during the period.

GE Vernova Stock Down 1.6 %

Shares of GEV stock opened at $322.81 on Friday. The company has a 50 day moving average price of $321.67 and a 200-day moving average price of $330.15. GE Vernova Inc. has a 52 week low of $132.11 and a 52 week high of $447.50. The firm has a market capitalization of $88.24 billion and a PE ratio of 58.06.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue was up 5.1% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEV. Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. New Street Research set a $380.00 price objective on GE Vernova in a research note on Wednesday, March 5th. The Goldman Sachs Group lifted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Jefferies Financial Group upped their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $357.13.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.