GE Vernova Inc. $GEV Holdings Lowered by Sculptor Capital LP

Sculptor Capital LP trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV) by 42.2% in the 4th quarter, HoldingsChannel reports. The firm owned 50,000 shares of the company’s stock after selling 36,500 shares during the quarter. Sculptor Capital LP’s holdings in GE Vernova were worth $32,678,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GEV. Norges Bank purchased a new stake in shares of GE Vernova during the fourth quarter valued at $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the last quarter. Capital World Investors lifted its holdings in shares of GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of GE Vernova by 170.0% during the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock valued at $722,956,000 after purchasing an additional 740,339 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after purchasing an additional 685,466 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Jefferies Financial Group lowered their target price on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup lifted their target price on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Susquehanna set a $1,300.00 target price on GE Vernova in a research note on Thursday, April 23rd. Finally, Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $1,085.16.

GE Vernova Trading Up 4.2%

NYSE:GEV opened at $980.08 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a fifty-two week low of $479.04 and a fifty-two week high of $1,181.95. The stock’s 50-day moving average is $1,010.48 and its two-hundred day moving average is $836.38. The stock has a market cap of $263.37 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. As a group, equities research analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.83%.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The stock was 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 in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated 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 sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

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.