Bornite Capital Management LP Trims Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Key Points

• Bornite Capital Management LP significantly decreased its stake in GE Vernova Inc. by 97.0%, now holding only 3,200 shares after selling 103,200 shares in the first quarter.
• Several institutional investors, including Virtu Financial LLC and Invesco Ltd., have increased their stakes in GE Vernova, reflecting a diverse interest among institutional players in the company's stock.
• Analyst ratings for GE Vernova are largely positive, with most firms projecting a "Moderate Buy" consensus and price targets ranging from $570 to $706.

Bornite Capital Management LP lowered its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 97.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,200 shares of the company's stock after selling 103,200 shares during the period. GE Vernova comprises about 0.3% of Bornite Capital Management LP's portfolio, making the stock its 23rd largest holding. Bornite Capital Management LP's holdings in GE Vernova were worth $977,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Virtu Financial LLC raised its stake in shares of GE Vernova by 111.6% during the 1st quarter. Virtu Financial LLC now owns 19,166 shares of the company's stock valued at $5,851,000 after buying an additional 10,108 shares during the last quarter. Entropy Technologies LP raised its stake in shares of GE Vernova by 4.6% during the 1st quarter. Entropy Technologies LP now owns 15,779 shares of the company's stock valued at $4,817,000 after buying an additional 689 shares during the last quarter. Invesco Ltd. raised its stake in shares of GE Vernova by 12.9% during the 1st quarter. Invesco Ltd. now owns 1,755,219 shares of the company's stock valued at $535,833,000 after buying an additional 199,944 shares during the last quarter. Berger Financial Group Inc raised its stake in shares of GE Vernova by 11.6% during the 1st quarter. Berger Financial Group Inc now owns 888 shares of the company's stock valued at $271,000 after buying an additional 92 shares during the last quarter. Finally, True North Advisors LLC raised its stake in shares of GE Vernova by 0.6% during the 1st quarter. True North Advisors LLC now owns 5,963 shares of the company's stock valued at $1,820,000 after buying an additional 38 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. Robert W. Baird lifted their price objective on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price target on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. The Goldman Sachs Group lifted their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Barclays lifted their price target on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Up 0.5%

GEV stock opened at $648.94 on Friday. The stock has a market cap of $176.65 billion, a price-to-earnings ratio of 156.37, a PEG ratio of 4.49 and a beta of 1.90. The business's 50-day moving average is $548.53 and its 200 day moving average is $424.54. GE Vernova Inc. has a 12-month low of $172.60 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.65 EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is currently 24.10%.

GE Vernova Company Profile

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.

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