Clean Energy Transition LLP Sells 311,475 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Clean Energy Transition LLP has significantly reduced its stake in GE Vernova Inc. by selling 311,475 shares, leaving it with only 87,074 shares, which now account for about 3.3% of its investment portfolio.
• In the 1st quarter, other institutional investors like SouthState Corp and Nuveen LLC made notable investments, reflecting a mixed sentiment toward the stock's potential.
• GE Vernova recently reported strong earnings, with an EPS of $1.86, exceeding analyst expectations, while also announcing a quarterly dividend of $0.25.

Clean Energy Transition LLP cut its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 78.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,074 shares of the company's stock after selling 311,475 shares during the quarter. GE Vernova makes up about 3.3% of Clean Energy Transition LLP's investment portfolio, making the stock its 11th largest position. Clean Energy Transition LLP's holdings in GE Vernova were worth $26,582,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GEV. SouthState Corp boosted its holdings in GE Vernova by 1,055.6% during the 1st quarter. SouthState Corp now owns 416 shares of the company's stock valued at $127,000 after acquiring an additional 380 shares during the period. Lockheed Martin Investment Management Co. purchased a new stake in GE Vernova during the 1st quarter valued at about $458,000. Nuveen LLC purchased a new stake in GE Vernova during the 1st quarter valued at about $223,556,000. Aigen Investment Management LP boosted its holdings in GE Vernova by 81.3% during the 1st quarter. Aigen Investment Management LP now owns 3,131 shares of the company's stock valued at $956,000 after acquiring an additional 1,404 shares during the period. Finally, Virtu Financial LLC boosted its holdings in GE Vernova by 111.6% during the 1st quarter. Virtu Financial LLC now owns 19,166 shares of the company's stock valued at $5,851,000 after acquiring an additional 10,108 shares during the period.

GE Vernova Trading Up 0.5%

GE Vernova stock opened at $648.94 on Friday. The firm has a market cap of $176.65 billion, a price-to-earnings ratio of 156.37, a PEG ratio of 4.49 and a beta of 1.90. The stock has a fifty day simple moving average of $548.53 and a two-hundred day simple moving average of $424.54. GE Vernova Inc. has a 12 month low of $172.60 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued 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 payout ratio is presently 24.10%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and increased their target price for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Citigroup increased their price objective on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. BMO Capital Markets increased their price objective on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley increased their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group increased their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Ten equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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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