Fiduciary Alliance LLC Cuts Stake in GE Vernova Inc. (NYSE:GEV)

Fiduciary Alliance LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 23.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,646 shares of the company's stock after selling 1,146 shares during the period. Fiduciary Alliance LLC's holdings in GE Vernova were worth $1,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MRP Capital Investments LLC purchased a new position in GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC raised its holdings in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its position in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Navigoe LLC bought a new position in GE Vernova in the 4th quarter valued at approximately $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in GE Vernova during the 4th quarter valued at $28,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GEV shares. Baird R W upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Morgan Stanley reiterated an "overweight" rating and issued a $422.00 price objective (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Susquehanna restated a "positive" rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Royal Bank of Canada dropped their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Finally, Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.78.

GE Vernova Trading Down 0.9%

GE Vernova stock traded down $4.61 during midday trading on Wednesday, hitting $488.36. The stock had a trading volume of 2,192,200 shares, compared to its average volume of 3,340,591. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $500.72. The company has a market capitalization of $133.29 billion, a PE ratio of 87.83, a P/E/G ratio of 3.03 and a beta of 1.97. The firm's fifty day moving average is $379.01 and its two-hundred day moving average is $357.63.

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 analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.47) earnings per share. As a group, equities research 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 declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. GE Vernova's dividend payout ratio is presently 14.41%.

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.