GE Vernova Inc. $GEV Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 34.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,030 shares of the company’s stock after selling 2,083 shares during the period. SG Americas Securities LLC’s holdings in GE Vernova were worth $2,478,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp acquired a new stake in GE Vernova during the 2nd quarter worth about $29,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova in the second quarter worth about $31,000. Bay Harbor Wealth Management LLC grew its holdings in GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Monetary Management Group Inc. purchased a new position in GE Vernova during the second quarter valued at approximately $32,000. Finally, Elevation Wealth Partners LLC raised its position in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GEV shares. BMO Capital Markets raised their price objective on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Jefferies Financial Group set a $830.00 price target on shares of GE Vernova in a report on Monday, December 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $761.00 price objective on shares of GE Vernova in a report on Monday, December 22nd. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Bank of America raised their target price on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $703.04.

GE Vernova Trading Up 1.9%

Shares of GE Vernova stock opened at $651.64 on Wednesday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The firm has a market capitalization of $176.80 billion, a PE ratio of 106.13, a P/E/G ratio of 2.68 and a beta of 1.67. The firm’s 50-day moving average price is $623.81 and its 200 day moving average price is $609.71.

GE Vernova (NYSE:GEV) last released 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 firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.35) EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio is presently 32.57%.

GE Vernova Company 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.