Sapient Capital LLC Purchases 565 Shares of GE Vernova Inc. (NYSE:GEV)

Sapient Capital LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 0.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 101,290 shares of the company’s stock after acquiring an additional 565 shares during the quarter. Sapient Capital LLC’s holdings in GE Vernova were worth $30,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter. Capital International Investors boosted its position in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC boosted its position in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter. Norges Bank bought a new stake in GE Vernova during the fourth quarter valued at about $1,109,720,000. Finally, Northern Trust Corp boosted its position in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after purchasing an additional 343,837 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GEV. Bank of America raised their price objective on GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Guggenheim reaffirmed a “buy” rating and set a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, TD Cowen decreased their price target on GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $395.98.

GE Vernova Stock Performance

Shares of GEV opened at $482.74 on Thursday. The business’s 50-day moving average is $400.27 and its two-hundred day moving average is $363.37. The company has a market capitalization of $131.76 billion, a P/E ratio of 86.82, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) earnings per share. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova’s dividend payout ratio is presently 14.41%.

About GE Vernova

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.