GE Vernova Inc. (NYSE:GEV) Shares Sold by DSM Capital Partners LLC

Key Points

• DSM Capital Partners LLC reduced its stake in GE Vernova Inc. by 1.3%, selling 2,042 shares and retaining 149,340 shares, which now represent 0.8% of its portfolio.
• GE Vernova's stock price decreased by 3.4% and closed at $634.79, with a significant 12-month market cap of $172.80 billion.
• The company beat analysts' earnings estimates, reporting $1.86 earnings per share and announcing a dividend of $0.25 per share, set to be paid on August 18th.

DSM Capital Partners LLC lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,340 shares of the company's stock after selling 2,042 shares during the period. GE Vernova makes up approximately 0.8% of DSM Capital Partners LLC's holdings, making the stock its 25th biggest position. DSM Capital Partners LLC owned about 0.05% of GE Vernova worth $45,591,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GEV. Westover Capital Advisors LLC boosted its holdings in shares of GE Vernova by 2.3% in the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after acquiring an additional 25 shares in the last quarter. Stonebridge Financial Group LLC boosted its holdings in shares of GE Vernova by 8.9% in the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after acquiring an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after acquiring an additional 30 shares in the last quarter. Hemington Wealth Management boosted its holdings in shares of GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after acquiring an additional 30 shares in the last quarter. Finally, Fulcrum Equity Management boosted its holdings in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after acquiring an additional 31 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. TD Cowen upped their price objective on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

NYSE GEV traded down $4.07 on Friday, hitting $621.20. The company had a trading volume of 2,485,806 shares, compared to its average volume of 2,892,794. The company has a market capitalization of $169.11 billion, a PE ratio of 149.69, a PEG ratio of 4.30 and a beta of 1.90. The company's fifty day moving average price is $563.55 and its 200-day moving average price is $433.53. GE Vernova Inc. has a 12-month low of $173.07 and a 12-month high of $677.29.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

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.