GE Vernova Inc. (NYSE:GEV) Stake Cut by Signaturefd LLC

Signaturefd LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 34.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,359 shares of the company's stock after selling 2,809 shares during the period. Signaturefd LLC's holdings in GE Vernova were worth $1,636,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bleakley Financial Group LLC grew its stake in shares of GE Vernova by 8.0% during the first quarter. Bleakley Financial Group LLC now owns 10,773 shares of the company's stock valued at $3,289,000 after purchasing an additional 794 shares during the last quarter. TFR Capital LLC. bought a new position in shares of GE Vernova during the first quarter worth $1,431,000. Hughes Financial Services LLC bought a new position in shares of GE Vernova during the first quarter worth $83,000. Schear Investment Advisers LLC raised its holdings in shares of GE Vernova by 23.8% during the first quarter. Schear Investment Advisers LLC now owns 11,640 shares of the company's stock worth $3,553,000 after acquiring an additional 2,241 shares during the period. Finally, Westmount Partners LLC raised its holdings in shares of GE Vernova by 31.1% during the first quarter. Westmount Partners LLC now owns 873 shares of the company's stock worth $267,000 after acquiring an additional 207 shares during the period.

Analyst Ratings Changes

Several research analysts have recently weighed in on GEV shares. Susquehanna restated a "positive" rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. BMO Capital Markets boosted their target price on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Truist Financial set a $440.00 price target on shares of GE Vernova in a research report on Thursday, March 27th. Bank of America upped their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Robert W. Baird upped their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $468.88.

GE Vernova Trading Up 1.1%

GEV traded up $6.40 during trading on Friday, reaching $576.57. 1,267,385 shares of the company were exchanged, compared to its average volume of 3,299,209. The stock has a market cap of $157.36 billion, a P/E ratio of 83.09, a PEG ratio of 4.18 and a beta of 1.86. The firm has a 50 day moving average of $489.76 and a 200 day moving average of $395.72. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $581.27.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company 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 business posted ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts forecast 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 Monday, August 18th. Investors of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.17%. GE Vernova's dividend payout ratio is currently 14.41%.

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.