Generali Investments Management Co LLC Sells 3,433 Shares of GE Vernova Inc. $GEV

Key Points

• Generali Investments Management cut its GE Vernova position by 97% in the third quarter, selling 3,433 shares and retaining 107 shares valued at approximately $102,000.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above expectations, but EPS of $2.47 missed the $3.17 consensus estimate.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $1,164.87, while the company announced a quarterly dividend of $0.50 per share.

Generali Investments Management Co LLC lowered its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 97.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107 shares of the company's stock after selling 3,433 shares during the period. Generali Investments Management Co LLC's holdings in GE Vernova were worth $102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in GE Vernova in the 2nd quarter worth approximately $25,569,630,000. State Street Corp grew its holdings in shares of GE Vernova by 3.3% during the 2nd quarter. State Street Corp now owns 11,765,340 shares of the company's stock worth $13,828,380,000 after acquiring an additional 370,842 shares during the period. Bank of America Corp DE boosted its position in shares of GE Vernova by 20.1% during the first quarter. Bank of America Corp DE now owns 2,598,178 shares of the company's stock valued at $2,267,949,000 after purchasing an additional 435,405 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in GE Vernova during the second quarter valued at $2,497,472,000. Finally, Jupiter Topco LLC purchased a new position in GE Vernova during the 2nd quarter valued at about $2,371,538,000.

GE Vernova Price Performance

GE Vernova stock opened at $907.78 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $241.77 billion, a PE ratio of 47.29, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The firm has a 50-day moving average price of $961.19 and a 200-day moving average price of $1,002.63.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 EPS. As a group, equities research analysts forecast that GE Vernova Inc. will post 15.04 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 5.72%.

Analysts Set New Price Targets

GEV has been the topic of a number of analyst reports. Guggenheim reiterated a "buy" rating and issued a $1,450.00 price target on shares of GE Vernova in a research note on Tuesday, October 13th. Glj Research started coverage on shares of GE Vernova in a research note on Monday, September 14th. They set a "sell" rating and a $470.00 target price on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. BMO Capital Markets restated an "outperform" rating and set a $1,250.00 price target (up from $1,110.00) on shares of GE Vernova in a research note on Friday, August 7th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $1,298.00 price target (up from $1,206.00) on shares of GE Vernova in a research report on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,164.87.

About GE Vernova

GE Vernova Inc NYSE: GEV is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.