GE Vernova Inc. $GEV Shares Sold by Sirios Capital Management L P

Sirios Capital Management L P decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,183 shares of the company’s stock after selling 22,474 shares during the period. GE Vernova comprises 13.8% of Sirios Capital Management L P’s portfolio, making the stock its largest holding. Sirios Capital Management L P owned about 0.07% of GE Vernova worth $95,344,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. WFA Asset Management Corp acquired a new position in shares of GE Vernova in the second quarter worth $29,000. 1248 Management LLC purchased a new position in GE Vernova in the first quarter valued at about $31,000. Howard Hughes Medical Institute acquired a new position in GE Vernova in the 2nd quarter worth about $31,000. Saudi Central Bank purchased a new stake in shares of GE Vernova during the 1st quarter worth about $33,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of GE Vernova during the 1st quarter valued at about $33,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GEV shares. Barclays increased their price objective on GE Vernova from $710.00 to $720.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Citigroup reduced their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Morgan Stanley increased their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wells Fargo & Company boosted their price target on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Finally, Cowen reissued a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $616.08.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $625.02 on Wednesday. The stock’s 50-day moving average is $591.25 and its 200-day moving average is $578.74. The company has a market cap of $169.58 billion, a P/E ratio of 101.79, a P/E/G ratio of 4.63 and a beta of 1.71. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.35) EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a $0.50 dividend. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio is 16.29%.

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.