Callan Family Office LLC Has $635,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Key Points

• Callan Family Office LLC reduced its holdings in GE Vernova Inc. by 47.8%, owning 2,079 shares valued at $635,000 after selling 1,906 shares in Q1.
• GE Vernova reported a net margin of 3.16% and earnings of $1.86 per share, exceeding estimates, while revenue increased by 11.1% year-over-year.
• The company announced a quarterly dividend of $0.25, with a dividend yield of 0.2% and a payout ratio of 24.10%.

Callan Family Office LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 47.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,079 shares of the company's stock after selling 1,906 shares during the period. Callan Family Office LLC's holdings in GE Vernova were worth $635,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GEV. Lockheed Martin Investment Management Co. bought a new position in GE Vernova during the 1st quarter worth $458,000. Golden State Wealth Management LLC increased its position in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after acquiring an additional 817 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in GE Vernova by 79.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after purchasing an additional 98,034 shares in the last quarter. Public Sector Pension Investment Board raised its stake in GE Vernova by 8.5% in the 1st quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after purchasing an additional 2,942 shares in the last quarter. Finally, Grandview Asset Management LLC boosted its holdings in GE Vernova by 48.8% in the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after purchasing an additional 705 shares during the period.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $634.79 on Thursday. The firm has a 50 day moving average price of $558.05 and a two-hundred day moving average price of $429.11. The stock has a market cap of $172.80 billion, a P/E ratio of 152.96, a price-to-earnings-growth ratio of 4.54 and a beta of 1.90. GE Vernova Inc. has a 52-week low of $173.07 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 earnings per share. Analysts predict 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. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

A number of research firms have commented on GEV. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and raised their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. TD Cowen lifted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Robert W. Baird upped their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova 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.

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