Pelham Capital Ltd. Has $3.47 Million Holdings in GE Vernova Inc. $GEV

Key Points

• Pelham Capital Ltd. has significantly reduced its stake in GE Vernova Inc. by 82.1%, now holding 6,563 shares valued at approximately $3.47 million, making it the firm's 12th largest holding.
• GE Vernova's Q2 earnings surpassed expectations with an earnings per share of $1.86, and the company reported a revenue of $9.11 billion, indicating an 11.1% year-over-year increase.
• The firm announced a quarterly dividend of $0.25 per share, payable on November 17th, representing an annualized yield of 0.2%.

Pelham Capital Ltd. reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 82.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,563 shares of the company's stock after selling 30,167 shares during the quarter. GE Vernova makes up 1.6% of Pelham Capital Ltd.'s investment portfolio, making the stock its 12th largest holding. Pelham Capital Ltd.'s holdings in GE Vernova were worth $3,473,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of GE Vernova by 1.8% in the first 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. lifted its position in GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock worth $634,984,000 after acquiring an additional 367,150 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after purchasing an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after buying an additional 622,730 shares during the last quarter.

GE Vernova Stock Down 1.3%

Shares of GEV stock opened at $606.97 on Thursday. GE Vernova Inc. has a 12 month low of $248.50 and a 12 month high of $677.29. The stock has a 50-day moving average price of $624.54 and a 200 day moving average price of $495.09. The firm has a market cap of $165.23 billion, a price-to-earnings ratio of 146.26, a PEG ratio of 4.48 and a beta of 1.74.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Citigroup upped their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $598.50.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova 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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