Pelham Capital Ltd. Has $3.47 Million Stock Holdings in GE Vernova Inc. $GEV

Pelham Capital Ltd. cut its stake in GE Vernova Inc. (NYSE:GEV) by 82.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,563 shares of the company’s stock after selling 30,167 shares during the period. GE Vernova makes up about 1.6% of Pelham Capital Ltd.’s portfolio, making the stock its 12th biggest holding. Pelham Capital Ltd.’s holdings in GE Vernova were worth $3,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Highline Wealth Partners LLC increased its position in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the period. Atlas Brown Inc. increased its holdings in GE Vernova by 0.8% in the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after purchasing an additional 19 shares during the period. Physician Wealth Advisors Inc. increased its holdings in GE Vernova by 9.0% in the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock valued at $128,000 after purchasing an additional 20 shares during the period. West Branch Capital LLC increased its holdings in GE Vernova by 25.6% in the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after purchasing an additional 20 shares during the period. Finally, Grove Bank & Trust increased its holdings in GE Vernova by 16.0% in the second quarter. Grove Bank & Trust now owns 167 shares of the company’s stock valued at $88,000 after purchasing an additional 23 shares during the period.

GE Vernova Price Performance

Shares of NYSE GEV opened at $606.97 on Thursday. The stock has a market capitalization of $165.23 billion, a P/E ratio of 146.26, a P/E/G ratio of 4.48 and a beta of 1.74. The company has a 50-day moving average price of $624.54 and a 200-day moving average price of $495.09. GE Vernova Inc. has a 1 year low of $248.50 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate 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 Monday, November 17th. Investors of record on Monday, October 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Citigroup increased their target price on shares of GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the stock a “sector perform” rating in a research report on Wednesday. Mizuho cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective for the company. in a research report on Monday, July 28th. Finally, Morgan Stanley increased their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $598.50.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

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.