Circle Wealth Management LLC Reduces Position in GE Vernova Inc. (NYSE:GEV)

Circle Wealth Management LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 46.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,137 shares of the company’s stock after selling 988 shares during the period. Circle Wealth Management LLC’s holdings in GE Vernova were worth $374,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GEV. Register Financial Advisors LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at about $206,000. GPS Wealth Strategies Group LLC lifted its stake in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after acquiring an additional 822 shares during the period. Yarbrough Capital LLC boosted its holdings in shares of GE Vernova by 67.2% in the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after acquiring an additional 1,160 shares during the last quarter. Legacy Bridge LLC increased its stake in shares of GE Vernova by 77.0% in the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after acquiring an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co raised its holdings in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after purchasing an additional 1,408 shares during the last quarter.

GE Vernova Stock Down 3.1 %

Shares of NYSE:GEV opened at $394.28 on Friday. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50. The business has a fifty day moving average of $328.62 and a two-hundred day moving average of $339.77. The stock has a market cap of $107.61 billion and a P/E ratio of 70.91.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.47) earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, April 17th. GE Vernova’s dividend payout ratio is presently 14.41%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GEV. Morgan Stanley reaffirmed an “overweight” rating and set a $422.00 price target (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. TD Cowen dropped their price objective on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. BMO Capital Markets dropped their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Jefferies Financial Group upped their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $369.22.

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.