Merrion Investment Management Co LLC Sells 515 Shares of GE Vernova Inc. (NYSE:GEV)

Merrion Investment Management Co LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,710 shares of the company's stock after selling 515 shares during the quarter. GE Vernova makes up 1.3% of Merrion Investment Management Co LLC's portfolio, making the stock its 21st largest holding. Merrion Investment Management Co LLC's holdings in GE Vernova were worth $1,743,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kovack Advisors Inc. raised its stake in shares of GE Vernova by 1.0% in the fourth quarter. Kovack Advisors Inc. now owns 3,167 shares of the company's stock valued at $1,042,000 after acquiring an additional 31 shares during the last quarter. Fulcrum Equity Management raised its position in 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 purchasing an additional 31 shares during the last quarter. Rothschild Investment LLC raised its position in GE Vernova by 1.7% in the 1st quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock valued at $600,000 after purchasing an additional 33 shares during the last quarter. Johnson & White Wealth Management LLC raised its position in GE Vernova by 3.7% in the 1st quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company's stock valued at $284,000 after purchasing an additional 33 shares during the last quarter. Finally, NewSquare Capital LLC raised its holdings in shares of GE Vernova by 32.4% in the fourth quarter. NewSquare Capital LLC now owns 139 shares of the company's stock valued at $46,000 after buying an additional 34 shares during the last quarter.

GE Vernova Stock Up 0.3%

GEV opened at $490.12 on Thursday. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $500.72. The company has a fifty day simple moving average of $418.66 and a 200 day simple moving average of $368.60. The stock has a market cap of $133.77 billion, a P/E ratio of 70.62, a P/E/G ratio of 3.79 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly 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. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the company earned ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. GE Vernova's payout ratio is 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research analyst reports. TD Cowen cut their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays boosted their target price on shares of GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Bank of America boosted their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They issued an "outperform" rating for the company. Finally, Royal Bank Of Canada dropped their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus price target of $404.56.

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.

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