GE Vernova Inc. (NYSE:GEV) Stake Cut by Bain Capital Public Equity LP

Bain Capital Public Equity LP cut its holdings in GE Vernova Inc. (NYSE:GEV) by 38.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,883 shares of the company’s stock after selling 12,940 shares during the quarter. GE Vernova comprises approximately 4.5% of Bain Capital Public Equity LP’s portfolio, making the stock its 10th largest holding. Bain Capital Public Equity LP’s holdings in GE Vernova were worth $6,869,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. World Investment Advisors LLC raised its stake in GE Vernova by 41.4% during the 3rd quarter. World Investment Advisors LLC now owns 2,876 shares of the company’s stock valued at $733,000 after acquiring an additional 842 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of GE Vernova by 5.4% in the third quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock valued at $1,854,000 after purchasing an additional 374 shares during the period. Franklin Resources Inc. grew its position in GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after buying an additional 71,067 shares during the period. Retirement Systems of Alabama increased its holdings in GE Vernova by 2.4% in the third quarter. Retirement Systems of Alabama now owns 61,894 shares of the company’s stock valued at $15,782,000 after buying an additional 1,433 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of GE Vernova by 2.2% during the 3rd quarter. Principal Financial Group Inc. now owns 577,284 shares of the company’s stock valued at $147,196,000 after acquiring an additional 12,323 shares during the period.

Wall Street Analyst Weigh In

Several analysts have weighed in on GEV shares. Barclays lowered their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Citigroup reduced their price target on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Bank of America upped their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $369.22.

GE Vernova Stock Up 3.7 %

Shares of NYSE:GEV opened at $396.48 on Friday. The company has a market capitalization of $108.21 billion and a price-to-earnings ratio of 71.31. The company has a 50 day moving average of $322.79 and a two-hundred day moving average of $336.70. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business earned ($0.47) EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, April 17th. GE Vernova’s payout ratio is currently 14.41%.

GE Vernova Company 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.