Beacon Pointe Advisors LLC Cuts Stock Holdings in GE Vernova Inc. $GEV

Beacon Pointe Advisors LLC lowered its position in GE Vernova Inc. (NYSE:GEV) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,702 shares of the company’s stock after selling 948 shares during the period. Beacon Pointe Advisors LLC’s holdings in GE Vernova were worth $5,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GEV. Sachetta LLC grew its holdings in GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after acquiring an additional 16 shares during the period. Good Life Advisors LLC boosted its position in shares of GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares in the last quarter. Bell Investment Advisors Inc grew its stake in shares of GE Vernova by 6.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares during the period. AMG National Trust Bank increased its holdings in shares of GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares in the last quarter. Finally, Highline Wealth Partners LLC lifted its stake in shares of GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares during the period.

Analyst Ratings Changes

Several brokerages have weighed in on GEV. Barclays upped their target price on shares of GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Glj Research raised their price objective on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Mizuho reduced their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Cowen reissued a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Finally, Redburn Partners set a $475.00 price target on GE Vernova in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $615.69.

GE Vernova Price Performance

GE Vernova stock opened at $602.16 on Thursday. The stock has a market capitalization of $163.38 billion, a P/E ratio of 98.07, a P/E/G ratio of 4.47 and a beta of 1.71. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm’s 50-day moving average is $589.68 and its two-hundred day moving average is $573.07.

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

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

About GE Vernova

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.