Carnegie Investment Counsel Sells 2,643 Shares of GE Vernova Inc. $GEV

Carnegie Investment Counsel cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,315 shares of the company’s stock after selling 2,643 shares during the quarter. Carnegie Investment Counsel’s holdings in GE Vernova were worth $19,256,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Sachetta LLC grew its position in GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after purchasing an additional 16 shares during the last quarter. Good Life Advisors LLC lifted its stake in shares of GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after buying an additional 16 shares during the period. Bell Investment Advisors Inc grew its position in GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after buying an additional 16 shares in the last quarter. Northwest Wealth Management LLC increased its stake in GE Vernova by 3.6% during the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after acquiring an additional 16 shares during the period. Finally, AMG National Trust Bank raised its holdings in 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 acquiring an additional 17 shares in the last quarter.

GE Vernova Trading Down 0.5%

NYSE:GEV opened at $663.65 on Friday. The firm has a market capitalization of $180.06 billion, a price-to-earnings ratio of 108.09, a PEG ratio of 5.09 and a beta of 1.71. The business’s 50-day moving average price is $605.33 and its two-hundred day moving average price is $594.41. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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 return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the company earned ($0.35) earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio is currently 16.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GEV shares. Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Mizuho reduced their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. HSBC upped their target price on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company raised their price target on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $691.11.

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.