GE Vernova Inc. (NYSE:GEV) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 43.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,983 shares of the company's stock after selling 1,511 shares during the period. Byrne Asset Management LLC's holdings in GE Vernova were worth $605,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Principal Securities Inc. boosted its stake in GE Vernova by 29.0% during the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock worth $622,000 after buying an additional 425 shares during the period. New York State Teachers Retirement System boosted its stake in shares of GE Vernova by 3.1% during the fourth quarter. New York State Teachers Retirement System now owns 242,128 shares of the company's stock valued at $79,643,000 after purchasing an additional 7,373 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of GE Vernova by 7.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 109,824 shares of the company's stock valued at $36,659,000 after purchasing an additional 7,970 shares during the period. O Neil Global Advisors Inc. purchased a new stake in shares of GE Vernova during the fourth quarter valued at $2,064,000. Finally, Axiom Investors LLC DE purchased a new stake in shares of GE Vernova during the fourth quarter valued at $123,157,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. Robert W. Baird boosted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. TD Cowen lowered their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, Royal Bank of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $404.56.

GE Vernova Stock Down 2.0%

Shares of GEV traded down $9.74 during mid-day trading on Friday, hitting $477.93. 2,432,081 shares of the company traded hands, compared to its average volume of 3,280,691. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The company has a market capitalization of $130.44 billion, a PE ratio of 85.96, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The business has a 50 day moving average of $408.13 and a 200 day moving average of $365.41.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping 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 company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the company earned ($0.47) EPS. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

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.