Triasima Portfolio Management inc. Reduces Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Triasima Portfolio Management inc. decreased its stake in GE Vernova Inc. (NYSE:GEV) by 39.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,482 shares of the company’s stock after selling 4,858 shares during the period. Triasima Portfolio Management inc.’s holdings in GE Vernova were worth $2,284,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GEV. FMR LLC increased its position in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter. Capital International Investors raised its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC grew its position in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the last quarter. Norges Bank acquired a new position in GE Vernova in the fourth quarter valued at $1,109,720,000. Finally, Northern Trust Corp boosted its stake in shares of GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after buying an additional 343,837 shares during the period.

Analysts Set New Price Targets

Several analysts have commented on GEV shares. Morgan Stanley upped their price objective on GE Vernova from $422.00 to $511.00 and gave the company an “overweight” rating in a research note on Tuesday, June 24th. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and raised their target price for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Glj Research initiated coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a “buy” rating for the company. Finally, Bank of America lifted their price objective on GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $465.96.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $560.49 on Wednesday. The firm’s 50 day moving average price is $483.13 and its 200 day moving average price is $392.90. The firm has a market cap of $152.97 billion, a P/E ratio of 80.76, a price-to-earnings-growth ratio of 4.13 and a beta of 1.86. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $560.63.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $7.56 billion. During the same period last year, the company earned ($0.47) EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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