TCW Group Inc. Sells 19,363 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• TCW Group Inc. reduced its stake in GE Vernova Inc. by 10% in Q1, holding approximately 173,777 shares valued at $53 million.
• Multiple analysts have raised their price targets for GEV, with JPMorgan increasing it from $620 to $715 and maintaining an "overweight" rating.
• GE Vernova announced a quarterly dividend of $0.25 per share, with a dividend payout ratio of 24.10%, set to be paid on August 18th.

TCW Group Inc. cut its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 10.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 173,777 shares of the company's stock after selling 19,363 shares during the period. TCW Group Inc. owned 0.06% of GE Vernova worth $53,051,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Navigoe LLC acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter worth $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth about $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova in the 4th quarter valued at about $28,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in GE Vernova in the 4th quarter valued at about $30,000.

GE Vernova Stock Performance

GEV traded up $18.38 during trading on Wednesday, reaching $651.05. The company had a trading volume of 1,627,897 shares, compared to its average volume of 3,671,992. The firm's 50-day simple moving average is $518.51 and its 200 day simple moving average is $410.15. The company has a market cap of $177.23 billion, a price-to-earnings ratio of 157.19, a PEG ratio of 4.48 and a beta of 1.86. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $656.17.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during 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 company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.65 EPS. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is 24.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. BMO Capital Markets boosted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Morgan Stanley boosted their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Bank of America boosted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average 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.