SG Americas Securities LLC Reduces Holdings in GE Vernova Inc. (NYSE:GEV)

SG Americas Securities LLC lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 37.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,604 shares of the company's stock after selling 5,760 shares during the period. SG Americas Securities LLC's holdings in GE Vernova were worth $2,932,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Parsons Capital Management Inc. RI boosted its stake in GE Vernova by 3.0% during the 1st quarter. Parsons Capital Management Inc. RI now owns 1,741 shares of the company's stock worth $531,000 after purchasing an additional 50 shares during the period. Walker Asset Management LLC lifted its stake in shares of GE Vernova by 6.9% in the 1st quarter. Walker Asset Management LLC now owns 1,067 shares of the company's stock worth $326,000 after acquiring an additional 69 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of GE Vernova by 35.1% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,926 shares of the company's stock worth $588,000 after acquiring an additional 500 shares during the period. GAMMA Investing LLC lifted its stake in shares of GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after acquiring an additional 542 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of GE Vernova by 2.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,298 shares of the company's stock worth $1,007,000 after acquiring an additional 83 shares during the period.

GE Vernova Stock Down 2.0%

Shares of GE Vernova stock opened at $477.93 on Friday. The stock has a market cap of $130.44 billion, a P/E ratio of 85.96, a P/E/G 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's 50 day moving average is $408.13 and its 200-day moving average is $365.62.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) EPS. The firm's revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. Morgan Stanley restated an "overweight" rating and issued a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. CICC Research started coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating for the company. BMO Capital Markets raised their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Susquehanna reiterated a "positive" rating and issued a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, Bank of America raised their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $404.56.

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.

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