976 GE Vernova Inc. $GEV Shares Sold by RVW Wealth LLC

Key Points

• RVW Wealth LLC cut its GE Vernova stake by 41.9% in the third quarter, selling 976 shares and retaining 1,356 shares valued at approximately $1.29 million.
• GE Vernova shares recently traded at $1,028.71, with a market capitalization of about $274 billion. The company reported 21.9% year-over-year revenue growth but missed quarterly earnings expectations, posting $2.47 per share versus the $3.17 consensus estimate.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,171.87. GE Vernova also announced a quarterly dividend of $0.50 per share, representing a 0.2% annualized yield.

RVW Wealth LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 41.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,356 shares of the company's stock after selling 976 shares during the period. RVW Wealth LLC's holdings in GE Vernova were worth $1,289,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Parvin Asset Management LLC purchased a new position in GE Vernova during the second quarter worth about $32,000. Pingora Partners LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at about $36,000. Manning & Napier Advisors LLC boosted its position in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after acquiring an additional 13 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in shares of GE Vernova during the 2nd quarter valued at about $39,000. Finally, Miller Global Investments LLC grew its holdings in shares of GE Vernova by 63.6% during the second quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after purchasing an additional 14 shares in the last quarter.

GE Vernova Price Performance

NYSE:GEV traded up $38.71 during mid-day trading on Tuesday, reaching $1,028.71. The stock had a trading volume of 2,526,386 shares, compared to its average volume of 2,654,039. The stock has a market capitalization of $273.98 billion, a P/E ratio of 29.44, a P/E/G ratio of 3.35 and a beta of 1.14. The firm has a 50 day moving average price of $963.54 and a two-hundred day moving average price of $995.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm's revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 earnings per share. As a group, analysts expect that GE Vernova Inc. will post 15.38 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 5.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GEV. Oppenheimer raised their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Evercore reissued an "outperform" rating and issued a $1,350.00 price target on shares of GE Vernova in a research note on Thursday, October 1st. Royal Bank Of Canada increased their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. TD Cowen raised their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, The Goldman Sachs Group raised shares of GE Vernova from a "buy" rating to a "market outperform" rating in a report on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,171.87.

GE Vernova Company Profile

GE Vernova Inc NYSE: GEV is an energy technology company formed through the separation of General Electric's energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.