Waverton Investment Management Ltd Sells 116,777 Shares of GE Vernova Inc. (NYSE:GEV)

Waverton Investment Management Ltd trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 19.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 498,952 shares of the company's stock after selling 116,777 shares during the quarter. GE Vernova makes up 2.4% of Waverton Investment Management Ltd's holdings, making the stock its 19th biggest holding. Waverton Investment Management Ltd owned approximately 0.18% of GE Vernova worth $152,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEV. MRP Capital Investments LLC acquired a new position in GE Vernova in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC grew its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the last quarter. Navigoe LLC acquired a new position in shares of GE Vernova in the fourth quarter worth approximately $27,000. EQ Wealth Advisors LLC bought a new stake in GE Vernova in the first quarter valued at approximately $27,000. Finally, Clarity Asset Management Inc. acquired a new stake in GE Vernova during the 4th quarter valued at approximately $28,000.

GE Vernova Stock Up 0.8%

Shares of NYSE:GEV opened at $506.74 on Friday. The firm has a market capitalization of $138.30 billion, a PE ratio of 73.02, a P/E/G ratio of 3.90 and a beta of 1.97. The company has a 50-day moving average price of $439.93 and a two-hundred day moving average price of $375.18. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $522.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 5.42% and a return on equity of 10.10%. During the same quarter in the previous year, the firm posted ($0.47) EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued 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 0.20%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Bank of America upped their target price on GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Royal Bank Of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Robert W. Baird lifted their price target 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. Finally, The Goldman Sachs Group increased their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.

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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