Los Angeles Capital Management LLC Sells 21,365 Shares of GE Vernova Inc. (NYSE:GEV)

Los Angeles Capital Management LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 53.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,945 shares of the company's stock after selling 21,365 shares during the period. Los Angeles Capital Management LLC's holdings in GE Vernova were worth $5,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GEV. Stonebridge Financial Group LLC increased its stake in shares of GE Vernova by 8.9% in the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after acquiring an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after acquiring an additional 30 shares during the last quarter. Fulcrum Equity Management increased its stake in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock valued at $291,000 after acquiring an additional 31 shares during the last quarter. Dopkins Wealth Management LLC increased its stake in shares of GE Vernova by 4.9% in the 1st quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after acquiring an additional 31 shares during the last quarter. Finally, Rothschild Investment LLC increased its stake in GE Vernova by 1.7% during the 1st quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock worth $600,000 after purchasing an additional 33 shares in the last quarter.

GE Vernova Price Performance

GE Vernova stock traded up $0.94 during mid-day trading on Thursday, hitting $629.97. 3,120,370 shares of the company's stock traded hands, compared to its average volume of 3,692,437. The firm has a 50 day simple moving average of $502.54 and a two-hundred day simple moving average of $402.41. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $633.72. The stock has a market cap of $171.94 billion, a price-to-earnings ratio of 90.76, a P/E/G ratio of 4.13 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the firm posted $4.65 EPS. The company's quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research reports. Morgan Stanley increased their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Glj Research initiated coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating for the company. Citigroup raised their price target on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, BMO Capital Markets raised their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $528.67.

GE Vernova Company 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.