DSM Capital Partners LLC Sells 2,042 Shares of GE Vernova Inc. (NYSE:GEV)

DSM Capital Partners LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,340 shares of the company’s stock after selling 2,042 shares during the quarter. GE Vernova accounts for 0.8% of DSM Capital Partners LLC’s portfolio, making the stock its 25th largest position. DSM Capital Partners LLC owned approximately 0.05% of GE Vernova worth $45,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. Westover Capital Advisors LLC raised its holdings in shares of GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company’s stock worth $345,000 after acquiring an additional 25 shares during the period. Stonebridge Financial Group LLC increased its stake in GE Vernova by 8.9% in the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company’s stock valued at $105,000 after buying an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company’s stock valued at $2,598,000 after buying an additional 30 shares during the last quarter. Hemington Wealth Management increased its stake in GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company’s stock valued at $54,000 after buying an additional 30 shares during the last quarter. Finally, Fulcrum Equity Management increased its stake in GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock valued at $291,000 after buying an additional 31 shares during the last quarter.

GE Vernova Stock Down 3.4%

Shares of NYSE GEV opened at $634.79 on Thursday. The company’s fifty day simple moving average is $558.05 and its 200 day simple moving average is $429.11. GE Vernova Inc. has a 12-month low of $173.07 and a 12-month high of $677.29. The firm has a market cap of $172.80 billion, a PE ratio of 152.96, a P/E/G ratio of 4.54 and a beta of 1.90.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen lifted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Susquehanna lifted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Wolfe Research downgraded shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $560.21.

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.