Gabelli Funds LLC Sells 2,789 Shares of GE Vernova Inc. $GEV

Key Points

• Gabelli Funds LLC reduced its stake in GE Vernova by 3.3%, selling 2,789 shares and now holds 81,642 shares valued at about $50.2 million.
• GE Vernova reported a huge quarterly beat with EPS of $13.39 vs. $2.99 expected and revenue of $10.96 billion (vs. $10.21B), along with a 12.8% net margin and 46.9% return on equity.
• The company announced a quarterly dividend of $0.50 per share (annualized $2.00, yield 0.3%, ex-dividend March 17) and Wall Street consensus rates GE Vernova as a Moderate Buy with an average price target of $805.25.

Gabelli Funds LLC cut its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,642 shares of the company's stock after selling 2,789 shares during the quarter. Gabelli Funds LLC's holdings in GE Vernova were worth $50,202,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Good Life Advisors LLC lifted its stake in shares of GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company's stock worth $875,000 after purchasing an additional 16 shares during the period. Bell Investment Advisors Inc grew its position in GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company's stock valued at $135,000 after buying an additional 16 shares during the period. Northwest Wealth Management LLC increased its holdings in GE Vernova by 3.6% during the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company's stock valued at $286,000 after buying an additional 16 shares during the last quarter. Graney & King LLC increased its holdings in GE Vernova by 2.4% during the second quarter. Graney & King LLC now owns 722 shares of the company's stock valued at $382,000 after buying an additional 17 shares during the last quarter. Finally, Traphagen Investment Advisors LLC raised its position in GE Vernova by 1.2% in the third quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company's stock worth $872,000 after acquiring an additional 17 shares during the period.

GE Vernova Trading Down 3.1%

NYSE GEV opened at $790.00 on Friday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93. The stock has a market cap of $212.93 billion, a PE ratio of 44.38, a P/E/G ratio of 3.24 and a beta of 1.45. The stock's 50 day moving average is $743.08 and its 200 day moving average is $655.74.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company's revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova's dividend payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GEV shares. Morgan Stanley reiterated an "overweight" rating and set a $817.00 price target on shares of GE Vernova in a research note on Monday, January 26th. Barclays reaffirmed an "overweight" rating and issued a $849.00 target price on shares of GE Vernova in a report on Monday, February 2nd. Oppenheimer reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 29th. Royal Bank Of Canada boosted their price target on GE Vernova from $761.00 to $800.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Finally, Wall Street Zen upgraded GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $805.25.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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