GE Vernova Inc. $GEV is Rithm Capital Corp.’s 3rd Largest Position

Rithm Capital Corp. raised its position in GE Vernova Inc. (NYSE:GEV) by 23.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,450 shares of the company’s stock after acquiring an additional 650 shares during the period. GE Vernova makes up 4.5% of Rithm Capital Corp.’s investment portfolio, making the stock its 3rd largest holding. Rithm Capital Corp.’s holdings in GE Vernova were worth $3,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Wealth Watch Advisors INC acquired a new position in GE Vernova during the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at approximately $26,000. Manning & Napier Advisors LLC boosted its stake in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after buying an additional 13 shares in the last quarter. Finally, ORG Wealth Partners LLC boosted its stake in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares in the last quarter.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on GEV shares. JPMorgan Chase & Co. upped their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Robert W. Baird raised their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Morgan Stanley boosted their target price on shares of GE Vernova from $1,250.00 to $1,350.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Stock Performance

GE Vernova stock opened at $997.11 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock has a fifty day moving average of $1,034.12 and a two-hundred day moving average of $925.93. The company has a market capitalization of $265.56 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.72 and a beta of 1.09. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 15.16 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.72%.

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.