Oliver Luxxe Assets LLC Lowers Stock Position in GE Vernova Inc. $GEV

Key Points

• Oliver Luxxe Assets LLC reduced its stake in GE Vernova Inc. by 2.1% in Q1, holding 26,483 shares worth approximately $8,085,000.
• GE Vernova reported $1.86 earnings per share for the quarter, exceeding analysts' expectations, and announced a dividend of $0.25 per share, yielding 0.2% annually.
• Analyst ratings have improved for GE Vernova, with several firms raising price targets, prompting a consensus rating of "Moderate Buy" and an average price target of $560.21.

Oliver Luxxe Assets LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,483 shares of the company's stock after selling 576 shares during the period. GE Vernova comprises 1.5% of Oliver Luxxe Assets LLC's investment portfolio, making the stock its 10th biggest position. Oliver Luxxe Assets LLC's holdings in GE Vernova were worth $8,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of GEV. Westover Capital Advisors LLC grew its holdings in GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after purchasing an additional 25 shares during the period. SVB Wealth LLC lifted its position in shares of GE Vernova by 0.7% during the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock valued at $1,094,000 after buying an additional 26 shares during the last quarter. Stonebridge Financial Group LLC grew its stake in shares of GE Vernova by 8.9% during the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after acquiring an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in 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 worth $2,598,000 after acquiring an additional 30 shares during the last quarter. Finally, Hemington Wealth Management increased its holdings in GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after acquiring an additional 30 shares during the last quarter.

GE Vernova Trading Up 0.0%

Shares of NYSE GEV opened at $606.1210 on Friday. The business has a 50-day moving average of $576.57 and a 200-day moving average of $441.37. The firm has a market capitalization of $165.00 billion, a price-to-earnings ratio of 146.05, a PEG ratio of 4.19 and a beta of 1.90. GE Vernova Inc. has a 12 month low of $173.07 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its 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 net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the business posted $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GEV. BMO Capital Markets boosted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Barclays increased their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, TD Cowen upped their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

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.

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.