ARS Investment Partners LLC Sells 18,195 Shares of GE Vernova Inc. $GEV

ARS Investment Partners LLC cut its position in GE Vernova Inc. (NYSE:GEV) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,939 shares of the company’s stock after selling 18,195 shares during the period. GE Vernova accounts for approximately 2.2% of ARS Investment Partners LLC’s investment portfolio, making the stock its 17th biggest holding. ARS Investment Partners LLC’s holdings in GE Vernova were worth $33,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GEV. Sachetta LLC increased its stake in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares in the last quarter. Good Life Advisors LLC raised its holdings in shares of 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 acquiring an additional 16 shares during the last quarter. Bell Investment Advisors Inc lifted its position in GE Vernova by 6.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after acquiring an additional 16 shares in the last quarter. Northwest Wealth Management LLC boosted its stake in GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares during the last quarter. Finally, AMG National Trust Bank grew its holdings in GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after buying an additional 17 shares in the last quarter.

GE Vernova Trading Up 0.8%

Shares of NYSE:GEV opened at $666.81 on Thursday. The stock has a fifty day simple moving average of $602.75 and a two-hundred day simple moving average of $592.62. The stock has a market capitalization of $180.92 billion, a price-to-earnings ratio of 108.60, a PEG ratio of 5.04 and a beta of 1.71. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 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 during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the company posted ($0.35) earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is 32.57%.

Wall Street Analyst Weigh In

A number of analysts recently commented on GEV shares. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a research report on Monday, September 15th. Robert W. Baird set a $816.00 target price on GE Vernova in a report on Thursday, December 18th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Jefferies Financial Group set a $830.00 price objective on GE Vernova in a report on Monday. Finally, Barclays upped their price objective on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $691.11.

About GE Vernova

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.