GE Vernova Inc. $GEV Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,965 shares of the company’s stock after selling 1,090 shares during the period. Asset Management One Co. Ltd.’s holdings in GE Vernova were worth $77,456,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $29,000. 1248 Management LLC acquired a new position in GE Vernova in the first quarter valued at approximately $31,000. Howard Hughes Medical Institute purchased a new position in GE Vernova in the second quarter worth approximately $31,000. Bay Harbor Wealth Management LLC grew its position in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Finally, Monetary Management Group Inc. acquired a new stake in GE Vernova during the second quarter worth $32,000.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. Oppenheimer raised GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price target on the stock in a research note on Wednesday, December 10th. Mizuho reduced their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Glj Research increased their target price on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Barclays lifted their price target on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Jefferies Financial Group set a $830.00 price objective on shares of GE Vernova in a report on Monday, December 22nd. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $691.11.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $678.29 on Friday. The firm has a market capitalization of $184.03 billion, a PE ratio of 110.47, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The firm’s 50-day moving average is $612.80 and its two-hundred day moving average is $601.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS 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 business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the business posted ($0.35) EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. 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. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio is currently 16.29%.

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.