Sapient Capital LLC Sells 1,479 Shares of GE Vernova Inc. $GEV

Sapient Capital LLC reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 1.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,536 shares of the company’s stock after selling 1,479 shares during the period. GE Vernova makes up 1.0% of Sapient Capital LLC’s portfolio, making the stock its 16th largest holding. Sapient Capital LLC’s holdings in GE Vernova were worth $63,045,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of GE Vernova in the 2nd quarter valued at about $1,809,220,000. Arrowstreet Capital Limited Partnership raised its position in GE Vernova by 273.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the period. AQR Capital Management LLC lifted its stake in shares of GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Amundi boosted its holdings in shares of GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after purchasing an additional 868,927 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after purchasing an additional 834,129 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GEV shares. Cowen restated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Bank of America increased their target price on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Mizuho lowered their target price on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Robert W. Baird set a $816.00 price target on shares of GE Vernova in a report on Thursday, December 18th. Finally, Jefferies Financial Group set a $830.00 price objective on shares of GE Vernova in a research report on Monday, December 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Trading Down 0.5%

NYSE GEV opened at $663.65 on Friday. The stock has a market cap of $180.06 billion, a PE ratio of 108.09, a PEG ratio of 5.06 and a beta of 1.71. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The company’s 50-day moving average price is $605.33 and its 200-day moving average price is $595.32.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned ($0.35) earnings per share. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is currently 32.57%.

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.