Atalanta Sosnoff Capital LLC Sells 117,143 Shares of GE Vernova Inc. (NYSE:GEV)

Atalanta Sosnoff Capital LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 99.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 885 shares of the company's stock after selling 117,143 shares during the period. Atalanta Sosnoff Capital LLC's holdings in GE Vernova were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Capital International Investors increased its stake in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC lifted its position in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after buying an additional 195,828 shares in the last quarter. Norges Bank acquired a new position in shares of GE Vernova during the 4th quarter worth about $1,109,720,000. Finally, Northern Trust Corp boosted its stake in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after buying an additional 343,837 shares during the last quarter.

GE Vernova Trading Up 1.4 %

GEV stock traded up $5.71 during mid-day trading on Wednesday, reaching $406.94. The company's stock had a trading volume of 2,480,880 shares, compared to its average volume of 3,321,037. The company has a market cap of $111.07 billion and a price-to-earnings ratio of 73.19. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $447.50. The business's 50 day moving average price is $325.61 and its 200 day moving average price is $338.49.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the business earned ($0.47) earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. GE Vernova's dividend payout ratio is 14.41%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GEV. CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating for the company. Morgan Stanley reissued an "overweight" rating and set a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Susquehanna raised their price objective on GE Vernova from $370.00 to $399.00 and gave the company a "positive" rating in a research report on Thursday, April 24th. Johnson Rice began coverage on GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. Finally, Citigroup cut their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $369.22.

GE Vernova Company 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.