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

CapWealth Advisors LLC trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,575 shares of the company’s stock after selling 2,423 shares during the quarter. GE Vernova makes up about 1.9% of CapWealth Advisors LLC’s portfolio, making the stock its 16th biggest position. CapWealth Advisors LLC’s holdings in GE Vernova were worth $28,024,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in GE Vernova by 1.1% in the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after purchasing an additional 271,958 shares during the period. State Street Corp grew its holdings in shares of GE Vernova by 1.9% in the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after purchasing an additional 206,650 shares during the last quarter. Geode Capital Management LLC increased its stake in GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after buying an additional 129,315 shares during the period. Norges Bank bought a new stake in GE Vernova during the 2nd quarter valued at about $1,809,220,000. Finally, Invesco Ltd. lifted its holdings in GE Vernova by 26.3% during the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after buying an additional 462,038 shares in the last quarter.

GE Vernova Stock Down 2.5%

GE Vernova stock opened at $667.94 on Thursday. The firm has a market cap of $181.23 billion, a P/E ratio of 108.79, a P/E/G ratio of 2.87 and a beta of 1.67. The business has a fifty day moving average of $635.53 and a two-hundred day moving average of $615.43. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month 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 company had revenue of $9.97 billion during 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 company’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

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

Wall Street Analyst Weigh In

GEV has been the topic of a number of research reports. Glj Research raised their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Barclays raised their price objective on GE Vernova from $800.00 to $830.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Rothschild Redb cut GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Robert W. Baird reissued a “neutral” rating and set a $649.00 price target (down previously from $816.00) on shares of GE Vernova in a research report on Friday, January 9th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $701.62.

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.