GE Vernova Inc. $GEV Holdings Decreased by Diametric Capital LP

Diametric Capital LP trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 70.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 477 shares of the company’s stock after selling 1,136 shares during the period. Diametric Capital LP’s holdings in GE Vernova were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

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

GE Vernova Stock Performance

Shares of NYSE GEV opened at $630.70 on Friday. The business’s 50-day simple moving average is $590.63 and its 200-day simple moving average is $575.61. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a market cap of $171.12 billion, a price-to-earnings ratio of 102.72, a P/E/G ratio of 4.70 and a beta of 1.71.

GE Vernova (NYSE:GEV) last announced its 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 company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the company earned ($0.35) EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GEV. BMO Capital Markets increased their price objective on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. UBS Group set a $710.00 price target on GE Vernova in a report on Thursday, October 23rd. Rothschild & Co Redburn reissued a “sell” rating and issued a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Finally, Morgan Stanley raised their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $616.08.

GE Vernova Profile

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.