GE Vernova Inc. (NYSE:GEV) Shares Sold by Central Asset Investments & Management Holdings HK Ltd

Key Points

• Central Asset Investments & Management Holdings HK Ltd reduced its holdings in GE Vernova Inc. by 54.2% in Q1, now owning 1,236 shares worth $377,000.
• GE Vernova reported $9.11 billion in revenue for the last quarter, exceeding estimates, and indicates a strong year-over-year revenue growth of 11.1%.
• The company has recently declared a quarterly dividend of $0.25, reflecting a 0.2% yield with a payout ratio of 24.10%.

Central Asset Investments & Management Holdings HK Ltd decreased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 54.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,236 shares of the company's stock after selling 1,463 shares during the quarter. Central Asset Investments & Management Holdings HK Ltd's holdings in GE Vernova were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GEV. Navigoe LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $27,000. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the first quarter worth approximately $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the 1st quarter worth approximately $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova in the 4th quarter valued at $28,000. Finally, Orion Capital Management LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at $30,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GEV shares. TD Cowen raised their price objective on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. The Goldman Sachs Group lifted their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America lifted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and boosted their target price for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Price Performance

NYSE:GEV traded up $7.33 during trading hours on Tuesday, reaching $658.09. 1,803,332 shares of the company traded hands, compared to its average volume of 2,834,080. GE Vernova Inc. has a 1-year low of $173.07 and a 1-year high of $677.29. The stock has a market cap of $179.15 billion, a P/E ratio of 158.58, a P/E/G ratio of 4.50 and a beta of 1.90. The firm's 50-day moving average is $555.12 and its 200-day moving average is $427.68.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.65 EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is 24.10%.

About GE Vernova

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.