Encompass Capital Advisors LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• Encompass Capital Advisors LLC acquired 252,140 shares of GE Vernova Inc. during the first quarter, valuing the stake at approximately $76.97 million, making it the 8th largest position in their portfolio.
• Other institutional investors, such as Vanguard Group Inc. and Goldman Sachs Group Inc., also increased their stakes in GE Vernova, highlighting growing confidence in the company.
• GE Vernova reported a quarterly EPS of $1.86, exceeding analysts' estimates, alongside a notable revenue increase of 11.1% year-over-year.

Encompass Capital Advisors LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 252,140 shares of the company's stock, valued at approximately $76,973,000. GE Vernova makes up about 2.9% of Encompass Capital Advisors LLC's portfolio, making the stock its 8th largest position. Encompass Capital Advisors LLC owned 0.09% of GE Vernova as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares during the period. GAMMA Investing LLC raised its stake in shares of GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after purchasing an additional 2,135,066 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after acquiring an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after buying an additional 622,730 shares during the period.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a research report on Monday, July 28th. BMO Capital Markets increased their target price on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Robert W. Baird increased their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Finally, UBS Group initiated coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Down 0.5%

Shares of NYSE:GEV opened at $576.80 on Thursday. The business has a fifty day simple moving average of $594.87 and a 200 day simple moving average of $454.39. GE Vernova Inc. has a 1 year low of $192.12 and a 1 year high of $677.29. The firm has a market cap of $157.02 billion, a price-to-earnings ratio of 138.99, a P/E/G ratio of 4.24 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's payout ratio is presently 24.10%.

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.

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