Patton Fund Management Inc. Sells 4,458 Shares of GE Vernova Inc. $GEV

Patton Fund Management Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 92.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 378 shares of the company’s stock after selling 4,458 shares during the period. Patton Fund Management Inc.’s holdings in GE Vernova were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oak Ridge Investments LLC bought a new stake in GE Vernova in the fourth quarter valued at $12,401,000. Cove Private Wealth LLC bought a new stake in GE Vernova in the fourth quarter valued at $972,000. Optima Capital LLC bought a new stake in GE Vernova in the fourth quarter valued at $212,000. Gemmer Asset Management LLC increased its stake in GE Vernova by 8.9% in the fourth quarter. Gemmer Asset Management LLC now owns 524 shares of the company’s stock valued at $343,000 after purchasing an additional 43 shares in the last quarter. Finally, Intelligence Driven Advisers LLC increased its stake in GE Vernova by 2.0% in the fourth quarter. Intelligence Driven Advisers LLC now owns 1,027 shares of the company’s stock valued at $671,000 after purchasing an additional 20 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GEV shares. Evercore lifted their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Zacks Research upgraded shares of GE Vernova from a “hold” rating to a “strong-buy” rating in a report on Monday, March 30th. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a report on Thursday, January 29th. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and lifted their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $889.30.

GE Vernova Stock Performance

GE Vernova stock opened at $992.16 on Tuesday. GE Vernova Inc. has a fifty-two week low of $306.21 and a fifty-two week high of $1,007.38. The stock has a market cap of $266.75 billion, a PE ratio of 55.74, a price-to-earnings-growth ratio of 3.90 and a beta of 1.43. The firm’s 50-day simple moving average is $851.93 and its 200 day simple moving average is $705.30.

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 the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given 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 currently 11.24%.

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.