GE Vernova Inc. $GEV Shares Sold by Sculptor Capital LP

Sculptor Capital LP cut its stake in GE Vernova Inc. (NYSE:GEV) by 42.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the company’s stock after selling 36,500 shares during the period. Sculptor Capital LP’s holdings in GE Vernova were worth $32,678,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GEV. Norges Bank acquired a new stake in GE Vernova in the fourth quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its position in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares during the period. Capital World Investors increased its position in GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after buying an additional 2,048,792 shares during the period. Franklin Resources Inc. increased its position in GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after buying an additional 740,339 shares during the period. Finally, Morgan Stanley increased its position in GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after buying an additional 685,466 shares during the period.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Argus set a $1,300.00 target price on GE Vernova in a research report on Monday, April 27th. BMO Capital Markets increased their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 price target on GE Vernova in a research note on Thursday, April 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Finally, Barclays increased their price target on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,085.16.

GE Vernova Trading Up 4.2%

Shares of GEV stock opened at $980.08 on Tuesday. The stock has a 50-day simple moving average of $1,010.48 and a 200 day simple moving average of $836.38. GE Vernova Inc. has a fifty-two week low of $479.04 and a fifty-two week high of $1,181.95. The stock has a market capitalization of $263.37 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.49 and a beta of 1.24. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

About GE Vernova

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.