Signaturefd LLC Sells 2,809 Shares of GE Vernova Inc. (NYSE:GEV)

Signaturefd LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 34.4% during the 1st quarter, Holdings Channel reports. The firm owned 5,359 shares of the company’s stock after selling 2,809 shares during the period. Signaturefd LLC’s holdings in GE Vernova were worth $1,636,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Bleakley Financial Group LLC grew its stake in shares of GE Vernova by 8.0% in the first quarter. Bleakley Financial Group LLC now owns 10,773 shares of the company’s stock worth $3,289,000 after purchasing an additional 794 shares during the last quarter. TFR Capital LLC. bought a new stake in shares of GE Vernova in the first quarter worth about $1,431,000. Hughes Financial Services LLC bought a new stake in shares of GE Vernova in the first quarter worth about $83,000. Schear Investment Advisers LLC grew its stake in shares of GE Vernova by 23.8% in the first quarter. Schear Investment Advisers LLC now owns 11,640 shares of the company’s stock worth $3,553,000 after purchasing an additional 2,241 shares during the last quarter. Finally, Westmount Partners LLC grew its stake in shares of GE Vernova by 31.1% in the first quarter. Westmount Partners LLC now owns 873 shares of the company’s stock worth $267,000 after purchasing an additional 207 shares during the last quarter.

GE Vernova Price Performance

NYSE GEV opened at $554.96 on Tuesday. The business’s fifty day moving average price is $479.94 and its 200-day moving average price is $391.73. The stock has a market capitalization of $151.46 billion, a price-to-earnings ratio of 79.96, a PEG ratio of 4.01 and a beta of 1.86. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $559.12.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. The Goldman Sachs Group lifted their price objective on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. TD Cowen reduced their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Susquehanna reiterated a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Glj Research initiated coverage on GE Vernova in a report on Monday, June 23rd. They set a “buy” rating on the stock. Finally, UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They set a “buy” rating and a $614.00 target price on the stock. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $459.29.

GE Vernova Company 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.