GE Vernova Inc. (NYSE:GEV) Shares Sold by Sierra Summit Advisors LLC

Key Points

• Sierra Summit Advisors LLC reduced its stake in GE Vernova Inc. by 3.2%, now holding 25,904 shares, accounting for 1.7% of its portfolio.
• GE Vernova reported a quarterly earnings per share (EPS) of $1.86, exceeding analysts' expectations, alongside a revenue of $9.11 billion, marking an 11.1% year-over-year increase.
• Analysts have raised their price targets for GE Vernova, with Barclays increasing its target to $706 and Wells Fargo raising it to $697, indicating a bullish outlook for the stock.

Sierra Summit Advisors LLC lessened its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,904 shares of the company's stock after selling 868 shares during the period. GE Vernova accounts for approximately 1.7% of Sierra Summit Advisors LLC's portfolio, making the stock its 23rd largest position. Sierra Summit Advisors LLC's holdings in GE Vernova were worth $7,908,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GEV. Navigoe LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the first quarter valued at about $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the first quarter valued at about $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $28,000. Finally, Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $30,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $648.94 on Friday. The company has a market cap of $176.65 billion, a PE ratio of 156.37, a price-to-earnings-growth ratio of 4.46 and a beta of 1.90. GE Vernova Inc. has a 12 month low of $172.60 and a 12 month high of $677.29. The company has a 50-day simple moving average of $548.53 and a 200-day simple moving average of $424.55.

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

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Barclays boosted their price target on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. TD Cowen boosted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Finally, Morgan Stanley boosted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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.