Envestnet Portfolio Solutions Inc. Sells 1,178 Shares of GE Vernova Inc. $GEV

Envestnet Portfolio Solutions Inc. decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,409 shares of the company’s stock after selling 1,178 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in GE Vernova were worth $2,711,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares during the period. Kathmere Capital Management LLC boosted its position in GE Vernova by 9.2% in the second quarter. Kathmere Capital Management LLC now owns 916 shares of the company’s stock worth $485,000 after purchasing an additional 77 shares during the last quarter. 1834 Investment Advisors Co. bought a new stake in shares of GE Vernova during the 2nd quarter valued at about $305,000. ORG Partners LLC grew its stake in shares of GE Vernova by 24.4% during the 2nd quarter. ORG Partners LLC now owns 596 shares of the company’s stock valued at $306,000 after purchasing an additional 117 shares during the period. Finally, Signaturefd LLC increased its position in shares of GE Vernova by 13.1% during the 2nd quarter. Signaturefd LLC now owns 6,061 shares of the company’s stock valued at $3,207,000 after purchasing an additional 702 shares during the last quarter.

Analyst Ratings Changes

GEV has been the subject of several recent research reports. TD Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Glj Research upped their price objective on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. The Goldman Sachs Group lifted their target price on GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Barclays upped their price target on GE Vernova from $800.00 to $830.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Finally, Bank of America boosted their price objective on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $701.62.

GE Vernova Stock Down 0.7%

GEV stock opened at $657.26 on Monday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The firm has a market capitalization of $178.33 billion, a P/E ratio of 107.05, a price-to-earnings-growth ratio of 2.79 and a beta of 1.67. The company has a fifty day simple moving average of $639.17 and a two-hundred day simple moving average of $617.81.

GE Vernova Increases Dividend

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

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.