First Financial Bankshares Inc Cuts Stock Holdings in GE Vernova Inc. $GEV

First Financial Bankshares Inc lowered its position in GE Vernova Inc. (NYSE:GEV) by 19.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,381 shares of the company’s stock after selling 826 shares during the period. First Financial Bankshares Inc’s holdings in GE Vernova were worth $2,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. boosted its stake in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in GE Vernova in the second quarter worth $31,000. Bay Harbor Wealth Management LLC lifted its holdings in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the period. Monetary Management Group Inc. acquired a new stake in GE Vernova in the second quarter valued at $32,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Mizuho set a $714.00 target price on shares of GE Vernova in a research report on Tuesday, February 3rd. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. BMO Capital Markets reissued an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Bank of America upped their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Stock Performance

GEV stock opened at $831.01 on Tuesday. The stock’s 50 day moving average price is $707.95 and its 200 day moving average price is $642.37. The firm has a market cap of $223.98 billion, a P/E ratio of 46.69, a PEG ratio of 3.30 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $846.00.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 11.24%.

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.