Plato Investment Management Ltd Decreases Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Plato Investment Management Ltd cut its GE Vernova stake by 21.1% in the fourth quarter, selling 2,064 shares and leaving it with 7,721 shares valued at about $5.07 million.
• GE Vernova reported a strong quarter, with EPS of $17.44 versus the $1.95 consensus estimate and revenue of $9.34 billion, up 17% year over year.
• Analysts remain broadly positive on the stock, with multiple firms raising price targets and the consensus rating standing at Moderate Buy with an average target price of $1,090.76.

Plato Investment Management Ltd trimmed its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 21.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,721 shares of the company's stock after selling 2,064 shares during the quarter. Plato Investment Management Ltd's holdings in GE Vernova were worth $5,071,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. lifted its stake in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC purchased a new position in GE Vernova in the 3rd quarter worth approximately $25,000. Torren Management LLC purchased a new position in GE Vernova in the 4th quarter worth approximately $26,000. ORG Wealth Partners LLC lifted its stake in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after purchasing an additional 29 shares in the last quarter. Finally, Monetary Management Group Inc. purchased a new position in GE Vernova in the 2nd quarter worth approximately $32,000.

GE Vernova Stock Down 0.5%

Shares of NYSE GEV opened at $1,040.75 on Friday. The company has a 50 day simple moving average of $933.83 and a 200-day simple moving average of $755.75. The company has a market capitalization of $279.67 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.90 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 1 year low of $387.03 and a 1 year high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm earned $0.91 EPS. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, March 17th. GE Vernova's dividend payout ratio (DPR) is 5.83%.

Analysts Set New Price Targets

A number of research firms have weighed in on GEV. TD Cowen raised their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. BMO Capital Markets raised their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. China Renaissance upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, January 29th. The Goldman Sachs Group restated a "buy" rating and set a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Finally, Citigroup raised their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,090.76.

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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