Capital Group Private Client Services Inc. Cuts Stock Position in GE Vernova Inc. $GEV

Key Points

• Capital Group Private Client Services cut its GE Vernova stake by 78.9% in Q3, selling 282,876 shares and retaining 75,655 shares valued at about $46.52 million, making GEV 0.8% of its portfolio and its 22nd largest holding.
• By contrast, several large institutions boosted or initiated positions—Vanguard, State Street, Geode and Invesco increased holdings and Norges Bank opened a new ~$1.81 billion position—signaling broad institutional accumulation.
• Analysts are broadly positive (consensus rating "Moderate Buy" and target ~$831.29); GE Vernova recently reported a big earnings beat (EPS $13.39 vs. $2.99 est.) and pays a $0.50 quarterly dividend (yield ~0.2%), with the stock trading near $829.66.

Capital Group Private Client Services Inc. lessened its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 78.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,655 shares of the company's stock after selling 282,876 shares during the quarter. GE Vernova accounts for 0.8% of Capital Group Private Client Services Inc.'s investment portfolio, making the stock its 22nd largest position. Capital Group Private Client Services Inc.'s holdings in GE Vernova were worth $46,520,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in GE Vernova by 0.6% during the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company's stock valued at $15,259,028,000 after buying an additional 150,892 shares during the period. State Street Corp increased its holdings in GE Vernova by 1.9% during the second quarter. State Street Corp now owns 11,097,778 shares of the company's stock worth $5,872,389,000 after buying an additional 206,650 shares during the last quarter. Geode Capital Management LLC raised its position in GE Vernova by 2.2% in the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company's stock worth $3,221,404,000 after acquiring an additional 129,315 shares during the period. Norges Bank purchased a new position in GE Vernova in the second quarter valued at about $1,809,220,000. Finally, Invesco Ltd. grew its position in shares of 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 acquiring an additional 462,038 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the topic of several research analyst reports. Erste Group Bank started coverage on GE Vernova in a research note on Thursday, March 5th. They issued a "buy" rating on the stock. Citigroup boosted their target price on GE Vernova from $708.00 to $779.00 and gave the company a "neutral" rating in a research note on Thursday, January 29th. Susquehanna upped their price target on GE Vernova from $800.00 to $820.00 and gave the company a "positive" rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. reissued an "overweight" rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Robert W. Baird set a $923.00 price objective on GE Vernova and gave the company an "outperform" rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $831.29.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $829.66 on Tuesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93. The stock has a market cap of $223.62 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44. The stock has a fifty day moving average of $746.41 and a 200-day moving average of $658.06.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to analysts' expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is currently 11.24%.

GE Vernova Profile

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.

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