GE Vernova Inc. (NYSE:GEV) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,810 shares of the company's stock after selling 1,394 shares during the quarter. GE Vernova makes up approximately 0.4% of Hoey Investments Inc.'s investment portfolio, making the stock its 20th largest position. Hoey Investments Inc.'s holdings in GE Vernova were worth $2,079,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $25,000. Fairway Wealth LLC increased its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Navigoe LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $28,000. Finally, Orion Capital Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $30,000.

GE Vernova Trading Down 2.0%

GEV traded down $9.74 during mid-day trading on Friday, hitting $477.93. 2,432,081 shares of the stock were exchanged, compared to its average volume of 3,280,691. The firm's fifty day moving average is $408.13 and its two-hundred day moving average is $365.41. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The company has a market cap of $130.44 billion, a PE ratio of 85.96, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio is currently 14.41%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GEV. The Goldman Sachs Group boosted 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. Guggenheim restated a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. BMO Capital Markets upped their target price on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Royal Bank of Canada dropped their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Finally, Bank of America upped their target price on GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $404.56.

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.