GE Vernova Inc. (NYSE:GEV) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC lowered its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,710 shares of the company's stock after selling 515 shares during the period. GE Vernova makes up approximately 1.3% of Merrion Investment Management Co LLC's portfolio, making the stock its 21st biggest holding. Merrion Investment Management Co LLC's holdings in GE Vernova were worth $1,743,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the period. Navigoe LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the 4th quarter valued at $28,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of GE Vernova during the 4th quarter valued at $30,000.

GE Vernova Stock Performance

Shares of GEV stock traded down $3.78 during trading hours on Friday, hitting $486.41. 4,002,218 shares of the company were exchanged, compared to its average volume of 3,267,193. The stock has a market capitalization of $132.76 billion, a price-to-earnings ratio of 70.09, a P/E/G ratio of 3.78 and a beta of 1.97. GE Vernova Inc. has a one year low of $150.01 and a one year high of $500.72. The business's 50-day simple moving average is $425.55 and its two-hundred day simple moving average is $370.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) earnings per share. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GEV shares. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Susquehanna reiterated a "positive" rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Bank of America increased 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. Royal Bank Of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $422.00 price target (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus target price of $413.39.

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.