GE Vernova Inc. $GEV Shares Sold by FORA Capital LLC

FORA Capital LLC decreased its stake in GE Vernova Inc. (NYSE:GEV) by 44.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,433 shares of the company’s stock after selling 23,961 shares during the quarter. GE Vernova makes up 1.8% of FORA Capital LLC’s holdings, making the stock its 5th biggest position. FORA Capital LLC’s holdings in GE Vernova were worth $16,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Norges Bank purchased a new position in shares of GE Vernova in the second quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership increased its position in shares of GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after purchasing an additional 1,104,747 shares during the last quarter. AQR Capital Management LLC lifted its holdings 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 worth $366,016,000 after acquiring an additional 892,549 shares during the last quarter. Amundi grew its stake in shares of GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after buying an additional 868,927 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in 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 valued at $445,773,000 after buying an additional 834,129 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GEV. HSBC boosted their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. BMO Capital Markets raised their target price on shares of GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a report on Wednesday. Redburn Partners set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Finally, Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $654.54.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $672.32 on Friday. The company has a market capitalization of $182.41 billion, a PE ratio of 109.50, a P/E/G ratio of 5.04 and a beta of 1.71. The business has a 50-day moving average of $597.06 and a 200-day moving average of $582.82. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00.

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

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

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.