Arosa Capital Management LP Sells 33,100 Shares of GE Vernova Inc. (NYSE:GEV)

Arosa Capital Management LP reduced its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 41.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,000 shares of the company's stock after selling 33,100 shares during the period. GE Vernova makes up approximately 6.1% of Arosa Capital Management LP's investment portfolio, making the stock its 4th biggest holding. Arosa Capital Management LP's holdings in GE Vernova were worth $15,131,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GEV. Armstrong Advisory Group Inc. boosted its stake in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock worth $262,000 after buying an additional 27 shares during the last quarter. Hengehold Capital Management LLC grew its stake in shares of GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock worth $405,000 after purchasing an additional 29 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock valued at $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC lifted its stake in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock valued at $888,000 after purchasing an additional 31 shares during the period. Finally, WASHINGTON TRUST Co boosted its holdings in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock worth $560,000 after buying an additional 31 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on GEV. BMO Capital Markets cut their price target on GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Robert W. Baird boosted their price target on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research note on Thursday, March 27th. Finally, TD Cowen dropped their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $369.22.

GE Vernova Price Performance

Shares of GE Vernova stock traded up $16.93 during trading on Friday, hitting $399.22. 2,669,353 shares of the stock were exchanged, compared to its average volume of 3,334,113. The firm's 50-day moving average price is $321.22 and its 200 day moving average price is $335.37. The stock has a market cap of $108.96 billion and a price-to-earnings ratio of 71.90. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share 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 analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.47) EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is 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.