GE Vernova Inc. (NYSE:GEV) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,759 shares of the company's stock after selling 4,108 shares during the quarter. Douglas Lane & Associates LLC's holdings in GE Vernova were worth $6,337,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. MRP Capital Investments LLC purchased a new stake in GE Vernova during the 4th quarter valued at approximately $25,000. Fairway Wealth LLC raised its stake in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Navigoe LLC purchased a new stake in GE Vernova during the 4th quarter valued at approximately $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in GE Vernova during the 4th quarter valued at approximately $28,000.

GE Vernova Price Performance

NYSE:GEV traded down $3.98 during trading hours on Thursday, reaching $484.15. 2,442,463 shares of the company traded hands, compared to its average volume of 3,310,610. The firm's 50-day moving average is $386.29 and its 200-day moving average is $359.63. The stock has a market cap of $132.14 billion, a P/E ratio of 87.08, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.47) EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have commented on GEV shares. Royal Bank of Canada reduced their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Guggenheim reaffirmed a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Robert W. Baird upped their price objective on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays upped their price objective on GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Finally, CICC Research began coverage on GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $385.78.

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.