GE Vernova Inc. (NYSE:GEV) Shares Sold by Palisade Capital Management LP

Palisade Capital Management LP reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 5.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,298 shares of the company’s stock after selling 232 shares during the quarter. Palisade Capital Management LP’s holdings in GE Vernova were worth $1,312,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in GE Vernova by 79.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company’s stock valued at $67,622,000 after purchasing an additional 98,034 shares in the last quarter. Grandview Asset Management LLC increased its stake in GE Vernova by 48.8% in the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company’s stock valued at $656,000 after purchasing an additional 705 shares in the last quarter. GAMMA Investing LLC increased its stake in GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock valued at $2,142,000 after purchasing an additional 542 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in GE Vernova in the 1st quarter valued at approximately $328,000. Finally, State of Alaska Department of Revenue increased its stake in GE Vernova by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 32,340 shares of the company’s stock valued at $9,872,000 after purchasing an additional 910 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on GEV. BMO Capital Markets raised their price objective on GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. Barclays raised their price objective on GE Vernova from $500.00 to $550.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Wolfe Research downgraded GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. Finally, Morgan Stanley raised their price target on GE Vernova from $422.00 to $511.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.04.

GE Vernova Stock Up 2.4%

GEV stock opened at $517.35 on Friday. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $532.59. The stock has a market capitalization of $141.20 billion, a price-to-earnings ratio of 74.55, a price-to-earnings-growth ratio of 3.89 and a beta of 1.86. The stock’s fifty day simple moving average is $458.30 and its 200-day simple moving average is $381.43.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter last year, the firm earned ($0.47) earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s payout ratio is currently 14.41%.

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.