Channel Wealth LLC Decreases Position in GE Vernova Inc. $GEV

Channel Wealth LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 84.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488 shares of the company’s stock after selling 2,741 shares during the quarter. Channel Wealth LLC’s holdings in GE Vernova were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sachetta LLC grew its stake 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 acquiring an additional 16 shares during the last quarter. Good Life Advisors LLC boosted its stake 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 purchasing an additional 16 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in GE Vernova by 6.7% in 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 in the last quarter. AMG National Trust Bank grew its position in GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after purchasing an additional 17 shares during the last quarter. Finally, Traphagen Investment Advisors LLC increased its stake in GE Vernova by 1.2% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock valued at $872,000 after purchasing an additional 17 shares in the last quarter.

GE Vernova Stock Down 10.3%

Shares of GEV opened at $615.86 on Thursday. The company has a market capitalization of $167.10 billion, a price-to-earnings ratio of 100.30, a PEG ratio of 5.23 and a beta of 1.71. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The stock’s 50-day moving average price is $600.06 and its 200-day moving average price is $586.71.

GE Vernova (NYSE:GEV) last announced its quarterly 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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the business posted ($0.35) earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. 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. GE Vernova’s payout ratio is currently 16.29%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada upgraded shares of GE Vernova from a “sector perform” rating to an “outperform” rating and set a $761.00 price objective for the company in a research note on Wednesday, December 10th. Seaport Res Ptn lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Wells Fargo & Company lifted their price target on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research report on Tuesday. Susquehanna increased their price objective on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a report on Wednesday, December 10th. Finally, HSBC raised their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $680.52.

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.