Westfield Capital Management Co. LP Sells 99,033 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Westfield Capital Management Co. LP decreased its stake in GE Vernova Inc. by 16.2%, selling 99,033 shares, and now holds a total of 512,767 shares, making it 29th in its portfolio.
• Several hedge funds have recently established new positions in GE Vernova, each investing approximately $27,000 to $30,000 in the company during the past quarter.
• GE Vernova reported an EPS of $1.86, beating estimates, with revenue of $9.11 billion, a net margin of 3.16%, and a return on equity of 13.23% for the most recent quarter.

Westfield Capital Management Co. LP trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 16.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 512,767 shares of the company's stock after selling 99,033 shares during the period. GE Vernova comprises 0.8% of Westfield Capital Management Co. LP's holdings, making the stock its 29th biggest holding. Westfield Capital Management Co. LP owned approximately 0.19% of GE Vernova worth $156,537,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Navigoe LLC bought a new position in GE Vernova in the 4th quarter worth about $27,000. EQ Wealth Advisors LLC bought a new position in GE Vernova in the 1st quarter worth about $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the 1st quarter worth about $27,000. Clarity Asset Management Inc. bought a new position in GE Vernova in the 4th quarter worth about $28,000. Finally, Orion Capital Management LLC bought a new position in GE Vernova in the 4th quarter worth about $30,000.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group assumed coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Citigroup upped their price target on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Susquehanna upped their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Glj Research assumed coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

NYSE:GEV opened at $656.66 on Monday. The firm has a market capitalization of $178.76 billion, a P/E ratio of 158.23, a PEG ratio of 4.54 and a beta of 1.90. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $677.29. The company's fifty day moving average price is $530.40 and its 200-day moving average price is $416.15.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $4.65 earnings per share. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 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.

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