Pacer Advisors Inc. Sells 4,642 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Pacer Advisors Inc. has reduced its holdings in GE Vernova Inc. by 20.8%, now owning 17,717 shares valued at approximately $5.41 million.
• Analysts are optimistic about GE Vernova's future, with price targets from various firms significantly raised, indicating a consensus rating of "Moderate Buy."
• GE Vernova recently announced a quarterly dividend of $0.25 per share, contributing to an annualized yield of 0.16% and a dividend payout ratio of 24.10%.

Pacer Advisors Inc. decreased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 20.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,717 shares of the company's stock after selling 4,642 shares during the quarter. Pacer Advisors Inc.'s holdings in GE Vernova were worth $5,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Westover Capital Advisors LLC raised its position 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 acquiring an additional 25 shares in the last quarter. Assetmark Inc. lifted its position in shares of GE Vernova by 52.1% during the 1st quarter. Assetmark Inc. now owns 14,104 shares of the company's stock worth $4,306,000 after buying an additional 4,834 shares during the period. Cetera Investment Advisers increased its holdings in GE Vernova by 18.5% during the 1st quarter. Cetera Investment Advisers now owns 77,531 shares of the company's stock valued at $23,669,000 after purchasing an additional 12,107 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of GE Vernova by 10.3% in the first quarter. Avantax Advisory Services Inc. now owns 8,202 shares of the company's stock valued at $2,504,000 after purchasing an additional 769 shares in the last quarter. Finally, Tempus Wealth Planning LLC lifted its stake in shares of GE Vernova by 0.5% during the first quarter. Tempus Wealth Planning LLC now owns 21,406 shares of the company's stock valued at $6,535,000 after acquiring an additional 114 shares during the period.

Analysts Set New Price Targets

GEV has been the subject of several analyst reports. Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday. Finally, BMO Capital Markets increased their target price on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Performance

Shares of GE Vernova stock traded up $13.34 during trading on Thursday, hitting $668.34. The company's stock had a trading volume of 1,864,756 shares, compared to its average volume of 3,666,352. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $677.29. The company has a market capitalization of $181.94 billion, a PE ratio of 160.84, a P/E/G ratio of 4.37 and a beta of 1.86. The company has a fifty day simple moving average of $522.53 and a two-hundred day simple moving average of $411.84.

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

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

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.