QRG Capital Management Inc. Sells 6,256 Shares of GE Vernova Inc. (NYSE:GEV)

QRG Capital Management Inc. lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 14.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,137 shares of the company’s stock after selling 6,256 shares during the quarter. QRG Capital Management Inc.’s holdings in GE Vernova were worth $11,032,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. MRP Capital Investments LLC bought a new position in GE Vernova in the 4th quarter worth $25,000. Fairway Wealth LLC boosted its stake in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the period. Navigoe LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth about $27,000. Clarity Asset Management Inc. bought a new stake in GE Vernova during the 4th quarter valued at approximately $28,000. Finally, Pinpoint Asset Management Ltd purchased a new position in GE Vernova in the 4th quarter worth approximately $30,000.

GE Vernova Trading Up 1.9%

GE Vernova stock opened at $487.69 on Tuesday. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $500.72. The firm has a 50-day moving average price of $412.15 and a 200-day moving average price of $366.91. The firm has a market capitalization of $133.11 billion, a PE ratio of 87.71, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the company posted ($0.47) EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

Analyst Ratings Changes

Several research firms have weighed in on GEV. Susquehanna restated a “positive” rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research note on Thursday, March 27th. Morgan Stanley reiterated an “overweight” rating and issued a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Royal Bank of Canada dropped their price objective 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. Finally, New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $404.56.

About GE Vernova

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.