Encompass Capital Advisors LLC Takes $76.97 Million Position in GE Vernova Inc. $GEV

Encompass Capital Advisors LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 252,140 shares of the company’s stock, valued at approximately $76,973,000. GE Vernova comprises approximately 2.9% of Encompass Capital Advisors LLC’s holdings, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. American Assets Inc. acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $658,000. Aptus Capital Advisors LLC grew its stake in shares of GE Vernova by 15.2% in the fourth quarter. Aptus Capital Advisors LLC now owns 3,221 shares of the company’s stock worth $1,060,000 after acquiring an additional 425 shares during the last quarter. Benjamin Edwards Inc. grew its position in GE Vernova by 1.7% in the 4th quarter. Benjamin Edwards Inc. now owns 2,535 shares of the company’s stock worth $834,000 after purchasing an additional 42 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of GE Vernova during the 4th quarter worth about $747,000.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Jefferies Financial Group lowered shares of GE Vernova from a “buy” rating to a “hold” rating and lifted their target price for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Morgan Stanley raised their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. UBS Group initiated coverage on GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Finally, Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $560.21.

Insider Activity

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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 0.5%

Shares of GEV opened at $576.80 on Thursday. The stock’s fifty day simple moving average is $594.87 and its 200-day simple moving average is $454.39. The firm has a market capitalization of $157.02 billion, a PE ratio of 138.99, a price-to-earnings-growth ratio of 4.24 and a beta of 1.87. GE Vernova Inc. has a 12-month low of $192.12 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the company posted $4.65 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were 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 was Monday, July 21st. GE Vernova’s payout ratio is 24.10%.

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.