GE Vernova Inc. (NYSE:GEV) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lowered its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 26.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,393 shares of the company's stock after selling 502 shares during the period. Penobscot Investment Management Company Inc.'s holdings in GE Vernova were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GEV. MRP Capital Investments LLC purchased a new position in GE Vernova in the fourth quarter valued at about $25,000. Fairway Wealth LLC raised its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Navigoe LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at approximately $27,000. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova during the first quarter worth approximately $27,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth $28,000.

GE Vernova Price Performance

Shares of GEV stock traded up $13.75 during trading hours on Friday, reaching $520.56. The stock had a trading volume of 9,147,914 shares, compared to its average volume of 3,289,885. The firm has a market capitalization of $142.08 billion, a PE ratio of 75.01, a price-to-earnings-growth ratio of 3.90 and a beta of 1.97. The firm has a 50-day simple moving average of $439.93 and a 200-day simple moving average of $375.18. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $532.52.

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

GE Vernova Announces Dividend

The firm also recently disclosed 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 yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Wall Street Analyst Weigh In

A number of research firms have commented on GEV. TD Cowen reduced their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Citigroup cut their target price 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. Truist Financial set a $440.00 price target on shares of GE Vernova in a research report on Thursday, March 27th. Robert W. Baird boosted their price objective on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Susquehanna restated a "positive" rating and set a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $429.13.

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.