Forum Financial Management LP Sells 103 Shares of GE Vernova Inc. (NYSE:GEV)

Forum Financial Management LP decreased its position in GE Vernova Inc. (NYSE:GEV) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,276 shares of the company’s stock after selling 103 shares during the period. Forum Financial Management LP’s holdings in GE Vernova were worth $1,000,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its position in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after acquiring an additional 817 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of GE Vernova by 79.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company’s stock worth $67,622,000 after purchasing an additional 98,034 shares in the last quarter. Grandview Asset Management LLC lifted its position 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 acquiring an additional 705 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in GE Vernova in the 1st quarter worth $328,000. Finally, GAMMA Investing LLC grew its position in GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after acquiring an additional 542 shares in the last quarter.

GE Vernova Price Performance

NYSE GEV opened at $571.00 on Friday. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $581.27. The company has a market cap of $155.84 billion, a P/E ratio of 82.28, a P/E/G ratio of 4.18 and a beta of 1.86. The stock has a 50-day moving average of $489.76 and a two-hundred day moving average of $395.72.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 return on equity of 10.10% and a net margin of 5.42%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) EPS. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup reissued a “neutral” rating and set a $544.00 target price (up previously from $354.00) on shares of GE Vernova in a research note on Monday. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and upped their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $468.88.

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.