Trust Point Inc. Reduces Holdings in GE Vernova Inc. (NYSE:GEV)

Trust Point Inc. decreased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 32.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,249 shares of the company's stock after selling 603 shares during the period. Trust Point Inc.'s holdings in GE Vernova were worth $381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter valued at approximately $25,000. Fairway Wealth LLC boosted its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Navigoe LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova in the fourth quarter worth $28,000. Finally, Orion Capital Management LLC bought a new position in GE Vernova in the fourth quarter worth $30,000.

Analysts Set New Price Targets

GEV has been the topic of a number of research reports. New Street Research set a $380.00 target price on shares of GE Vernova in a report on Wednesday, March 5th. Guggenheim reissued a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Royal Bank Of Canada decreased their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. BMO Capital Markets boosted their price target on GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $404.56.

GE Vernova Price Performance

GEV stock opened at $488.99 on Wednesday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72. The company has a market cap of $133.46 billion, a P/E ratio of 70.46, a price-to-earnings-growth ratio of 3.79 and a beta of 1.97. The stock's fifty day moving average price is $415.39 and its 200-day moving average price is $367.75.

GE Vernova (NYSE:GEV - Get Free Report) last announced its 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. The business had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm posted ($0.47) earnings per share. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is 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.

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