Strategy Asset Managers LLC Cuts Stock Position in GE Vernova Inc. (NYSE:GEV)

Strategy Asset Managers LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 4.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,076 shares of the company’s stock after selling 49 shares during the quarter. Strategy Asset Managers LLC’s holdings in GE Vernova were worth $329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors boosted its stake in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the period. GAMMA Investing LLC boosted its stake in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after buying an additional 2,135,066 shares during the period. TD Asset Management Inc boosted its stake in GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after buying an additional 799,388 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock worth $379,974,000 after buying an additional 690,513 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after buying an additional 622,730 shares during the period.

Wall Street Analyst Weigh In

Several research firms have commented on GEV. TD Cowen lifted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Robert W. Baird lifted their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. UBS Group began coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a “buy” rating and a $614.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $560.21.

GE Vernova Stock Performance

Shares of GEV stock opened at $663.81 on Thursday. GE Vernova Inc. has a fifty-two week low of $164.69 and a fifty-two week high of $677.29. The firm has a market capitalization of $180.70 billion, a price-to-earnings ratio of 159.95, a PEG ratio of 4.49 and a beta of 1.90. The stock’s 50-day simple moving average is $541.50 and its 200-day simple moving average is $421.27.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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 given a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 24.10%.

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.