Thoroughbred Financial Services LLC Sells 716 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Thoroughbred Financial Services LLC reduced its stake in GE Vernova Inc. by 35.8%, selling 716 shares and valuing its remaining holdings at $391,000.
• Investment analysts have provided a consensus rating of "Moderate Buy" for GE Vernova, with price target adjustments varying from $550.00 to $736.00 across different firms.
• GE Vernova announced a quarterly dividend of $0.25 per share, representing a 0.2% yield and a dividend payout ratio of 24.10%.

Thoroughbred Financial Services LLC trimmed its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 35.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282 shares of the company's stock after selling 716 shares during the quarter. Thoroughbred Financial Services LLC's holdings in GE Vernova were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GEV. Navigoe LLC purchased a new stake in GE Vernova during the 4th quarter valued at about $27,000. EQ Wealth Advisors LLC bought a new stake in GE Vernova during the 1st quarter valued at about $27,000. IMA Advisory Services Inc. bought a new stake in GE Vernova during the 1st quarter valued at about $27,000. Clarity Asset Management Inc. bought a new stake in GE Vernova during the 4th quarter valued at about $28,000. Finally, Orion Capital Management LLC bought a new stake in GE Vernova during the 4th quarter valued at about $30,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Bank of America raised 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, July 17th. Susquehanna raised their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a report on Monday, July 28th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued 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 $560.21.

GE Vernova Trading Up 0.5%

NYSE GEV traded up $3.08 on Friday, reaching $648.94. 1,887,386 shares of the stock were exchanged, compared to its average volume of 2,893,177. GE Vernova Inc. has a one year low of $172.60 and a one year high of $677.29. The firm has a market capitalization of $176.65 billion, a PE ratio of 156.37, a PEG ratio of 4.46 and a beta of 1.90. The company's 50-day simple moving average is $548.53 and its two-hundred day simple moving average is $424.55.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the business earned $4.65 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. Sell-side 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. Shareholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

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.