Bessemer Group Inc. Sells 103,091 Shares of GE Vernova Inc. (NYSE:GEV)

Bessemer Group Inc. trimmed its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 35.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 184,585 shares of the company's stock after selling 103,091 shares during the quarter. Bessemer Group Inc. owned about 0.07% of GE Vernova worth $56,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Aurora Private Wealth Inc. purchased a new stake in shares of GE Vernova during the 1st quarter valued at about $4,413,000. Spire Wealth Management lifted its position in GE Vernova by 23.8% during the first quarter. Spire Wealth Management now owns 3,680 shares of the company's stock valued at $1,124,000 after purchasing an additional 707 shares during the period. Daymark Wealth Partners LLC boosted its holdings in GE Vernova by 13.7% in the first quarter. Daymark Wealth Partners LLC now owns 7,010 shares of the company's stock worth $2,140,000 after purchasing an additional 842 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in GE Vernova in the 1st quarter worth approximately $407,000. Finally, S.A. Mason LLC raised its stake in GE Vernova by 79.3% during the 1st quarter. S.A. Mason LLC now owns 744 shares of the company's stock valued at $227,000 after buying an additional 329 shares during the last quarter.

GE Vernova Trading Up 2.7%

GEV traded up $13.75 on Friday, hitting $520.56. 9,147,914 shares of the company's stock traded hands, compared to its average volume of 3,292,886. The company's 50 day simple moving average is $439.93 and its 200-day simple moving average is $375.18. GE Vernova Inc. has a one year low of $150.01 and a one year high of $532.52. The firm has a market cap of $142.08 billion, a price-to-earnings ratio of 75.01, a P/E/G ratio of 3.94 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business posted ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is currently 14.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BMO Capital Markets raised their price target on GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Bank of America raised their target price on GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Royal Bank Of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Finally, Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.

About GE Vernova

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.