GE Vernova Inc. $GEV Stock Position Reduced by Yousif Capital Management LLC

Yousif Capital Management LLC trimmed its position in GE Vernova Inc. (NYSE:GEV) by 5.6% in the third quarter, Holdings Channel.com reports. The fund owned 31,748 shares of the company’s stock after selling 1,881 shares during the period. Yousif Capital Management LLC’s holdings in GE Vernova were worth $19,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in GE Vernova by 1.1% during the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after purchasing an additional 271,958 shares during the last quarter. State Street Corp lifted its position in shares of GE Vernova by 1.9% in the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after buying an additional 206,650 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after buying an additional 129,315 shares during the period. Norges Bank bought a new stake in shares of GE Vernova during the 2nd quarter valued at about $1,809,220,000. Finally, Invesco Ltd. raised its stake in GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares during the period.

Analysts Set New Price Targets

A number of brokerages have commented on GEV. Glj Research lifted their target price on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Susquehanna boosted their price objective on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Robert W. Baird set a $816.00 price objective on GE Vernova in a research note on Thursday. Finally, Jefferies Financial Group set a $830.00 target price on GE Vernova in a research report on Monday. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Price Performance

GEV opened at $661.03 on Tuesday. The stock’s 50 day moving average price is $601.45 and its 200 day moving average price is $590.88. The stock has a market cap of $179.35 billion, a P/E ratio of 107.66, a P/E/G ratio of 5.02 and a beta of 1.71. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00.

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

GE Vernova Increases Dividend

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

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.