GE Vernova Inc. $GEV Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. decreased its position in GE Vernova Inc. (NYSE:GEV) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,011 shares of the company’s stock after selling 5,796 shares during the period. Braun Stacey Associates Inc.’s holdings in GE Vernova were worth $24,603,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bay Harbor Wealth Management LLC increased its position in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Elevation Wealth Partners LLC lifted its holdings in shares of GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the second quarter valued at approximately $29,000. Howard Hughes Medical Institute acquired a new position in GE Vernova during the second quarter worth $31,000. Finally, Monetary Management Group Inc. acquired a new position in GE Vernova during the second quarter worth $32,000.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $653.24 on Friday. The business’s fifty day moving average price is $610.93 and its two-hundred day moving average price is $599.39. The stock has a market cap of $177.24 billion, a PE ratio of 106.39, a price-to-earnings-growth ratio of 4.98 and a beta of 1.67. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00.

GE Vernova (NYSE:GEV) last issued 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). The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share 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. Shareholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is 16.29%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEV. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a report on Monday, September 15th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Evercore ISI began coverage on shares of GE Vernova in a research report on Monday, December 15th. They set an “outperform” rating and a $860.00 target price on the stock. Seaport Res Ptn cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Finally, Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.