GE Vernova Inc. $GEV is Rithm Capital Corp.’s 3rd Largest Position

Rithm Capital Corp. grew its position in GE Vernova Inc. (NYSE:GEV) by 23.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,450 shares of the company’s stock after buying an additional 650 shares during the quarter. GE Vernova accounts for 4.5% of Rithm Capital Corp.’s holdings, making the stock its 3rd largest holding. Rithm Capital Corp.’s holdings in GE Vernova were worth $3,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. World Investment Advisors raised its position in GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after purchasing an additional 2,241 shares in the last quarter. Merit Financial Group LLC grew its position in shares of GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after buying an additional 2,230 shares in the last quarter. Vest Financial LLC increased its stake in shares of GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after buying an additional 23,956 shares during the period. Riverbend Wealth Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $567,000. Finally, RiverFront Investment Group LLC lifted its stake in GE Vernova by 239.2% in the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock worth $1,432,000 after acquiring an additional 1,545 shares during the last quarter.

Insiders Place Their Bets

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on 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 directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GEV shares. Barclays boosted their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Argus set a $1,300.00 target price on shares of GE Vernova in a research note on Monday, April 27th. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada increased their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday. Finally, BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Trading Down 1.7%

GEV opened at $997.11 on Tuesday. The firm has a market cap of $265.56 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 3.72 and a beta of 1.09. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The business’s 50 day moving average is $1,034.12 and its two-hundred day moving average is $925.93. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. On average, research analysts predict that GE Vernova Inc. will post 15.16 EPS for the current year.

GE Vernova Dividend Announcement

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

GE Vernova 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.