Park Avenue Securities LLC Sells 2,403 Shares of GE Vernova Inc. (NYSE:GEV)

Park Avenue Securities LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 27.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,341 shares of the company's stock after selling 2,403 shares during the quarter. Park Avenue Securities LLC's holdings in GE Vernova were worth $1,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. grew its holdings in GE Vernova by 29.0% during the 4th quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock worth $622,000 after acquiring an additional 425 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of GE Vernova by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 242,128 shares of the company's stock worth $79,643,000 after purchasing an additional 7,373 shares during the last quarter. Schear Investment Advisers LLC increased its holdings in GE Vernova by 10.4% in the fourth quarter. Schear Investment Advisers LLC now owns 9,399 shares of the company's stock valued at $3,092,000 after purchasing an additional 888 shares during the period. Hudock Inc. bought a new position in GE Vernova during the 4th quarter worth $225,000. Finally, Cardinal Strategic Wealth Guidance acquired a new position in GE Vernova during the 4th quarter worth about $266,000.

GE Vernova Price Performance

Shares of GEV stock traded up $4.82 during trading hours on Thursday, reaching $488.29. The company had a trading volume of 976,720 shares, compared to its average volume of 3,282,748. The company has a market cap of $133.27 billion, a price-to-earnings ratio of 87.82, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $500.72. The business has a fifty day simple moving average of $400.27 and a 200-day simple moving average of $363.37.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business earned ($0.47) EPS. The business's revenue was up 10.6% on a year-over-year basis. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GEV shares. The Goldman Sachs Group upped their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday. BMO Capital Markets increased their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Citigroup reduced their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays lifted 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. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $395.98.

GE Vernova 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.