Envestnet Portfolio Solutions Inc. Sells 5,650 Shares of GE Vernova Inc. (NYSE:GEV)

Envestnet Portfolio Solutions Inc. lowered its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 54.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,660 shares of the company's stock after selling 5,650 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in GE Vernova were worth $1,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. MRP Capital Investments LLC bought a new position in GE Vernova during the 4th quarter valued at about $25,000. Fairway Wealth LLC raised its holdings in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $27,000. Clarity Asset Management Inc. bought a new position in GE Vernova during the fourth quarter valued at approximately $28,000. Finally, Orion Capital Management LLC purchased a new stake in GE Vernova in the fourth quarter worth approximately $30,000.

GE Vernova Price Performance

Shares of NYSE GEV traded down $7.85 during mid-day trading on Wednesday, reaching $502.99. The company's stock had a trading volume of 2,474,448 shares, compared to its average volume of 3,266,762. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $522.16. The stock has a fifty day moving average of $436.25 and a two-hundred day moving average of $374.00. The firm has a market capitalization of $137.28 billion, a PE ratio of 72.48, a P/E/G ratio of 3.97 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.47) EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Robert W. Baird lifted their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley upped their price objective on GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research report on Tuesday. Guggenheim reissued a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Finally, Royal Bank Of Canada dropped their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $429.13.

GE Vernova Company 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.