Patton Fund Management Inc. Sells 4,458 Shares of GE Vernova Inc. $GEV

Key Points

• Patton Fund Management slashed its stake in GE Vernova by 92.2%, selling 4,458 shares and holding just 378 shares worth $247,000 at the end of the quarter.
• GE Vernova reported a blockbuster quarter with EPS of $13.39 vs. $2.99 expected and revenue of $10.96 billion, alongside a 12.83% net margin and 46.91% return on equity.
• Analysts remain broadly bullish: several firms raised price targets (Goldman to $925, Evercore to $905) and the consensus rating is Buy with an average target of $889.30.

Patton Fund Management Inc. decreased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 92.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 378 shares of the company's stock after selling 4,458 shares during the period. Patton Fund Management Inc.'s holdings in GE Vernova were worth $247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Voisard Asset Management Group Inc. lifted its stake in GE Vernova by 2.7% in the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock valued at $376,000 after purchasing an additional 15 shares during the last quarter. Northwest Wealth Management LLC lifted its stake in GE Vernova by 3.6% in the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company's stock valued at $286,000 after purchasing an additional 16 shares during the last quarter. Sutton Place Investors LLC lifted its stake in GE Vernova by 3.1% in the 4th quarter. Sutton Place Investors LLC now owns 531 shares of the company's stock valued at $347,000 after purchasing an additional 16 shares during the last quarter. Washburn Capital Management Inc. lifted its stake in GE Vernova by 0.3% in the 4th quarter. Washburn Capital Management Inc. now owns 4,735 shares of the company's stock valued at $3,095,000 after purchasing an additional 16 shares during the last quarter. Finally, Traphagen Investment Advisors LLC lifted its stake in GE Vernova by 1.2% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company's stock valued at $872,000 after purchasing an additional 17 shares during the last quarter.

GE Vernova Stock Up 0.1%

Shares of NYSE GEV opened at $992.16 on Tuesday. GE Vernova Inc. has a twelve month low of $306.21 and a twelve month high of $1,007.38. The firm has a fifty day simple moving average of $851.93 and a 200 day simple moving average of $705.30. The company has a market capitalization of $266.75 billion, a PE ratio of 55.74, a P/E/G ratio of 3.90 and a beta of 1.43.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter last year, the firm earned $1.73 earnings per share. GE Vernova's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova's dividend payout ratio (DPR) is currently 11.24%.

Analyst Ratings Changes

GEV has been the subject of several analyst reports. Evercore raised their price target on shares of GE Vernova from $860.00 to $905.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. UBS Group restated a "buy" rating on shares of GE Vernova in a report on Thursday, January 29th. Royal Bank Of Canada increased their price objective on GE Vernova from $761.00 to $800.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Oppenheimer restated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 29th. Finally, The Goldman Sachs Group increased their price objective on GE Vernova from $840.00 to $925.00 and gave the company a "buy" rating in a report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Buy" and an average target price of $889.30.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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