Marietta Investment Partners LLC Sells 2,565 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Marietta Investment Partners LLC has reduced its stake in GE Vernova Inc. by 19.4%, selling 2,565 shares and lowering its holdings to 10,641 shares valued at approximately $3.25 million.
• GE Vernova recently reported earnings per share of $1.86, exceeding analysts' expectations of $1.63, along with quarterly revenue of $9.11 billion, which was higher than anticipated.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 0.16% and a payout ratio of 24.10%.

Marietta Investment Partners LLC lowered its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 19.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,641 shares of the company's stock after selling 2,565 shares during the quarter. Marietta Investment Partners LLC's holdings in GE Vernova were worth $3,248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Navigoe LLC bought a new stake in shares of GE Vernova during the fourth quarter worth $27,000. EQ Wealth Advisors LLC bought a new stake in GE Vernova in the first quarter valued at about $27,000. IMA Advisory Services Inc. bought a new stake in GE Vernova in the first quarter valued at about $27,000. Clarity Asset Management Inc. bought a new stake in GE Vernova in the fourth quarter valued at about $28,000. Finally, Pinpoint Asset Management Ltd bought a new stake in GE Vernova in the fourth quarter valued at about $30,000.

GE Vernova Stock Up 3.3%

GEV stock opened at $644.60 on Friday. The business has a 50 day moving average price of $510.80 and a two-hundred day moving average price of $406.08. The company has a market cap of $175.93 billion, a price-to-earnings ratio of 155.33, a P/E/G ratio of 4.66 and a beta of 1.86. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $651.22.

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

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.16%. GE Vernova's dividend payout ratio is 24.10%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GEV shares. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Wells Fargo & Company upped their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday. Guggenheim reiterated a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. Finally, Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $540.96.

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.

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 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.