GE Vernova Inc. (NYSE:GEV) Shares Sold by Secure Asset Management LLC

Secure Asset Management LLC trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 42.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,530 shares of the company's stock after selling 1,107 shares during the period. Secure Asset Management LLC's holdings in GE Vernova were worth $467,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GEV. FMR LLC raised its stake in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the period. Capital International Investors boosted its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the period. Geode Capital Management LLC grew its stake in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after acquiring an additional 195,828 shares in the last quarter. Norges Bank acquired a new stake in shares of GE Vernova in the fourth quarter valued at $1,109,720,000. Finally, Northern Trust Corp grew its stake in GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on GEV. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and boosted their price target for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Robert W. Baird upped their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. BMO Capital Markets lifted their price target on shares of GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Morgan Stanley restated an "overweight" rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their target price on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $385.78.

GE Vernova Stock Performance

NYSE:GEV traded up $2.75 during trading hours on Friday, hitting $487.06. The company's stock had a trading volume of 2,099,918 shares, compared to its average volume of 3,305,777. The business's 50-day moving average is $386.29 and its two-hundred day moving average is $359.63. The company has a market capitalization of $132.94 billion, a PE ratio of 87.60, a PEG ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business posted ($0.47) earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's payout ratio is currently 14.41%.

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.