GE Vernova Inc. (NYSE:GEV) Shares Sold by Aire Advisors LLC

Aire Advisors LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 49.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 823 shares of the company's stock after selling 793 shares during the period. Aire Advisors LLC's holdings in GE Vernova were worth $251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GEV. Navigoe LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $27,000. EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the first quarter valued at approximately $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova in the fourth quarter valued at approximately $28,000. Pinpoint Asset Management Ltd acquired a new stake in GE Vernova in the fourth quarter valued at approximately $30,000. Finally, Orion Capital Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $30,000.

GE Vernova Stock Down 1.2%

Shares of NYSE GEV traded down $7.26 during mid-day trading on Thursday, hitting $621.77. 2,379,385 shares of the company were exchanged, compared to its average volume of 3,686,973. The stock has a 50 day simple moving average of $502.54 and a 200-day simple moving average of $402.41. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $633.72. The firm has a market cap of $169.70 billion, a price-to-earnings ratio of 89.59, a price-to-earnings-growth ratio of 4.13 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the company earned $4.65 earnings per share. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is presently 14.41%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GEV. Truist Financial set a $440.00 target price on shares of GE Vernova in a report on Thursday, March 27th. Robert W. Baird raised their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday. The Goldman Sachs Group increased their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. TD Cowen dropped their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Guggenheim reiterated a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $528.67.

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.