Convergence Investment Partners LLC Sells 1,322 Shares of GE Vernova Inc. (NYSE:GEV)

Convergence Investment Partners LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 31.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,828 shares of the company's stock after selling 1,322 shares during the quarter. Convergence Investment Partners LLC's holdings in GE Vernova were worth $863,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Navigoe LLC acquired a new position in GE Vernova during the 4th quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $28,000. Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $30,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the first quarter worth approximately $27,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $30,000.

GE Vernova Stock Performance

GE Vernova stock traded up $20.63 during midday trading on Friday, hitting $644.60. 3,598,352 shares of the company's stock were exchanged, compared to its average volume of 3,205,434. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $651.22. The stock has a 50-day moving average price of $510.80 and a two-hundred day moving average price of $406.35. The company has a market cap of $175.47 billion, a P/E ratio of 155.33, a PEG ratio of 4.81 and a beta of 1.86.

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 the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is 24.10%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley increased their price target on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group assumed coverage on GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. Susquehanna increased their price target on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday. Finally, Barclays increased their price target on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $555.43.

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.