Capital Group Private Client Services Inc. Trims Stake in GE Vernova Inc. $GEV

Capital Group Private Client Services Inc. decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 78.9% in the 3rd quarter, Holdings Channel reports. The firm owned 75,655 shares of the company’s stock after selling 282,876 shares during the period. GE Vernova comprises 0.8% of Capital Group Private Client Services Inc.’s investment portfolio, making the stock its 22nd largest holding. Capital Group Private Client Services Inc.’s holdings in GE Vernova were worth $46,520,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Howard Hughes Medical Institute purchased a new stake in GE Vernova in the second quarter worth approximately $31,000. Bay Harbor Wealth Management LLC grew its position in GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Monetary Management Group Inc. purchased a new position in shares of GE Vernova during the second quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter.

GE Vernova Trading Up 5.1%

Shares of GEV stock opened at $829.66 on Tuesday. The company’s fifty day moving average price is $746.41 and its 200-day moving average price is $658.06. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93. The stock has a market cap of $223.62 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GEV. Robert W. Baird set a $923.00 price target on shares of GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Citigroup increased their target price on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. TD Cowen increased their price objective on GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $831.29.

GE Vernova Company 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.