GE Vernova Inc. (NYSE:GEV) Shares Sold by L & S Advisors Inc

Key Points

• L & S Advisors Inc significantly reduced its stake in GE Vernova Inc. by 69.0% in the first quarter, now holding 6,494 shares worth approximately $1.98 million.
• GE Vernova reported an earnings per share (EPS) of $1.86 for the last quarter, exceeding forecasts, with revenues of $9.11 billion, an 11.1% increase year-over-year.
• The company announced a quarterly dividend of $0.25 per share, set to be paid on August 18th, which signifies a 0.2% dividend yield.

L & S Advisors Inc decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 69.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,494 shares of the company's stock after selling 14,451 shares during the quarter. L & S Advisors Inc's holdings in GE Vernova were worth $1,982,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Navigoe LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the first quarter valued at $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the first quarter valued at $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the fourth quarter valued at $28,000. Finally, Orion Capital Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at $30,000.

GE Vernova Price Performance

Shares of GEV stock opened at $656.66 on Friday. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $677.29. The stock's 50-day moving average is $530.40 and its two-hundred day moving average is $415.97. The firm has a market cap of $178.76 billion, a P/E ratio of 158.23, a PEG ratio of 4.54 and a beta of 1.90.

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

GE Vernova Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price for the company. in a report on Monday, July 28th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the company from $427.00 to $517.00 in a report on Thursday, May 29th. JPMorgan Chase & Co. upped their target price on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova 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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.