Triasima Portfolio Management inc. Decreases Stake in GE Vernova Inc. (NYSE:GEV)

Triasima Portfolio Management inc. reduced its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 39.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,482 shares of the company's stock after selling 4,858 shares during the period. Triasima Portfolio Management inc.'s holdings in GE Vernova were worth $2,284,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its position in GE Vernova by 3.4% during the fourth 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 in the last quarter. Capital International Investors boosted its holdings in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC boosted its holdings in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after buying an additional 195,828 shares in the last quarter. Norges Bank purchased a new stake in GE Vernova during the fourth quarter worth $1,109,720,000. Finally, Northern Trust Corp boosted its holdings in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after buying an additional 343,837 shares in the last quarter.

GE Vernova Stock Up 1.8%

Shares of GEV traded up $9.83 during trading on Thursday, reaching $571.00. 2,555,413 shares of the company traded hands, compared to its average volume of 3,317,973. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $581.04. The stock has a market cap of $155.84 billion, a PE ratio of 82.28, a price-to-earnings-growth ratio of 4.17 and a beta of 1.86. The stock has a 50-day simple moving average of $486.23 and a 200-day simple moving average of $394.06.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm posted ($0.47) earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.18%. GE Vernova's dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GEV shares. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 price target on the stock. Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. TD Cowen decreased their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $468.88.

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.