GE Vernova Inc. $GEV Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. lowered its stake in GE Vernova Inc. (NYSE:GEV) by 60.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,404 shares of the company’s stock after selling 2,112 shares during the quarter. Lecap Asset Management Ltd.’s holdings in GE Vernova were worth $863,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Sachetta LLC raised its stake in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares during the period. Good Life Advisors LLC boosted its stake in shares of GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after purchasing an additional 16 shares during the period. Bell Investment Advisors Inc grew its holdings in GE Vernova by 6.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC increased its stake in GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after buying an additional 16 shares during the period. Finally, AMG National Trust Bank lifted its holdings in GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after buying an additional 17 shares in the last quarter.

GE Vernova Stock Down 5.0%

Shares of NYSE GEV opened at $629.26 on Friday. The stock’s 50 day moving average price is $619.83 and its two-hundred day moving average price is $605.60. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The stock has a market capitalization of $170.73 billion, a P/E ratio of 102.49, a PEG ratio of 2.77 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the firm posted ($0.35) earnings per share. GE Vernova’s revenue was up 11.8% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GEV. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. UBS Group increased their price target on GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Robert W. Baird set a $816.00 price objective on GE Vernova in a research note on Thursday, December 18th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $695.19.

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.