Eagle Strategies LLC Sells 1,092 Shares of GE Vernova Inc. $GEV

Eagle Strategies LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 17.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,013 shares of the company’s stock after selling 1,092 shares during the quarter. Eagle Strategies LLC’s holdings in GE Vernova were worth $3,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Bay Harbor Wealth Management LLC boosted its holdings in shares of 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 buying an additional 43 shares during the period. Elevation Wealth Partners LLC lifted its position in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. WFA Asset Management Corp bought a new stake in GE Vernova during the second quarter valued at about $29,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova in the second quarter valued at about $31,000. Finally, Monetary Management Group Inc. bought a new position in shares of GE Vernova in the second quarter worth about $32,000.

GE Vernova Price Performance

GEV opened at $678.29 on Friday. The company has a market capitalization of $184.03 billion, a P/E ratio of 110.47, a P/E/G ratio of 2.85 and a beta of 1.67. The firm’s fifty day moving average price is $612.80 and its two-hundred day moving average price is $601.50. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 business 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 business posted ($0.35) earnings per share. GE Vernova’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GEV shares. Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price for the company in a research note on Wednesday, December 10th. Morgan Stanley increased their price objective on GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Susquehanna increased their price target on shares of GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock 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.