CapWealth Advisors LLC Sells 2,423 Shares of GE Vernova Inc. $GEV

CapWealth Advisors LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,575 shares of the company’s stock after selling 2,423 shares during the period. GE Vernova makes up 2.5% of CapWealth Advisors LLC’s portfolio, making the stock its 11th biggest holding. CapWealth Advisors LLC’s holdings in GE Vernova were worth $28,024,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp purchased a new position in GE Vernova during the second quarter worth about $29,000. 1248 Management LLC bought a new stake in shares of GE Vernova during the 1st quarter valued at about $31,000. Howard Hughes Medical Institute purchased a new position in shares of GE Vernova during the second quarter worth about $31,000. Bay Harbor Wealth Management LLC grew its holdings in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Finally, Monetary Management Group Inc. bought a new position in shares of GE Vernova in the second quarter worth approximately $32,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. UBS Group lifted their target price on shares of GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Citigroup dropped their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $761.00 target price on shares of GE Vernova in a research report on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. 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 given a Sell rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $691.11.

GE Vernova Trading Down 1.0%

Shares of NYSE:GEV opened at $653.24 on Friday. The stock has a market capitalization of $177.24 billion, a P/E ratio of 106.39, a price-to-earnings-growth ratio of 4.98 and a beta of 1.67. The stock’s 50-day moving average price is $610.93 and its 200-day moving average price is $599.39. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00.

GE Vernova (NYSE:GEV) last released its 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 company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the firm posted ($0.35) EPS. The company’s revenue was up 11.8% on a year-over-year basis. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost 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 16.29%.

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.