Hedges Asset Management LLC Sells 650 Shares of GE Vernova Inc. (NYSE:GEV)

Hedges Asset Management LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,125 shares of the company's stock after selling 650 shares during the quarter. Hedges Asset Management LLC's holdings in GE Vernova were worth $1,565,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Perpetual Ltd boosted its position in GE Vernova by 72.6% during the 1st quarter. Perpetual Ltd now owns 7,079 shares of the company's stock worth $2,161,000 after buying an additional 2,977 shares during the period. PDS Planning Inc raised its stake in shares of GE Vernova by 5.1% during the first quarter. PDS Planning Inc now owns 1,643 shares of the company's stock valued at $502,000 after acquiring an additional 79 shares during the last quarter. Chung Wu Investment Group LLC raised its stake in shares of GE Vernova by 33.9% during the first quarter. Chung Wu Investment Group LLC now owns 2,271 shares of the company's stock valued at $693,000 after acquiring an additional 575 shares during the last quarter. Western Wealth Management LLC lifted its holdings in shares of GE Vernova by 26.5% during the first quarter. Western Wealth Management LLC now owns 3,603 shares of the company's stock worth $1,100,000 after purchasing an additional 754 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of GE Vernova by 5.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 87,135 shares of the company's stock worth $26,601,000 after purchasing an additional 4,255 shares during the last quarter.

GE Vernova Stock Up 2.7%

NYSE:GEV traded up $13.75 on Friday, hitting $520.56. The stock had a trading volume of 9,147,914 shares, compared to its average volume of 3,289,887. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $532.52. The business's fifty day moving average is $439.93 and its 200 day moving average is $375.18. The company has a market cap of $142.08 billion, a PE ratio of 75.01, a P/E/G ratio of 3.90 and a beta of 1.97.

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

GE Vernova Announces Dividend

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is currently 14.41%.

Analyst Ratings Changes

A number of research firms recently weighed in on GEV. Susquehanna restated a "positive" rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Morgan Stanley upped their price target on GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research report on Tuesday. Robert W. Baird raised their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Bank of America increased their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, TD Cowen lowered their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to 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.