GE Vernova Inc. $GEV Shares Sold by Comerica Bank

Key Points

• Comerica Bank trimmed its stake in GE Vernova by 1.8%, selling 905 shares and leaving it with 48,248 shares valued at about $31.53 million at quarter-end.
• GE Vernova posted a massive beat with EPS of $17.44 vs. $1.95 expected and revenue of $9.34 billion (up 17% YoY), while analysts maintain a consensus rating of "Moderate Buy" with a $1,090.76 average price target and several targets as high as $1,300.
• The stock opened at $1,119.23 with a market cap of $300.76 billion, a 52-week range of $357.64–$1,181.95, and pays a quarterly dividend of $0.50 (annualized $2.00, ~0.2% yield).

Comerica Bank lowered its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,248 shares of the company's stock after selling 905 shares during the period. Comerica Bank's holdings in GE Vernova were worth $31,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC increased its position in shares of GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company's stock worth $1,078,000 after purchasing an additional 1,413 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company's stock worth $9,990,000 after purchasing an additional 3,278 shares in the last quarter. Kercheville Advisors LLC increased its position in shares of GE Vernova by 238.3% during the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company's stock worth $3,016,000 after purchasing an additional 3,455 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of GE Vernova during the third quarter worth about $18,601,000. Finally, US Bancorp DE increased its position in shares of GE Vernova by 2.2% during the third quarter. US Bancorp DE now owns 100,542 shares of the company's stock worth $61,824,000 after purchasing an additional 2,163 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. Argus set a $1,300.00 target price on GE Vernova in a research report on Monday. BNP Paribas Exane cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price target on the stock. in a research report on Monday. Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday. Guggenheim boosted their price target on GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price target on GE Vernova from $831.00 to $896.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,090.76.

GE Vernova Stock Performance

Shares of GEV stock opened at $1,119.23 on Tuesday. The stock has a market capitalization of $300.76 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 4.40 and a beta of 1.43. GE Vernova Inc. has a 52-week low of $357.64 and a 52-week high of $1,181.95. The stock's 50-day moving average price is $904.12 and its 200 day moving average price is $736.19. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 14.5 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 17th. GE Vernova's payout ratio is currently 5.83%.

About GE Vernova

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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