Bowen Hanes & Co. Inc. Sells 3,235 Shares of GE Vernova Inc. $GEV

Bowen Hanes & Co. Inc. cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 181,483 shares of the company’s stock after selling 3,235 shares during the period. GE Vernova comprises about 2.8% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 5th biggest holding. Bowen Hanes & Co. Inc. owned approximately 0.07% of GE Vernova worth $111,594,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC boosted its position in GE Vernova by 300.0% during the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,413 shares during the period. J.W. Cole Advisors Inc. lifted its position in shares of GE Vernova by 25.3% in the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock worth $9,990,000 after purchasing an additional 3,278 shares in the last quarter. Kercheville Advisors LLC boosted its holdings in shares of GE Vernova by 238.3% during the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after purchasing an additional 3,455 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of GE Vernova during the third quarter worth approximately $18,601,000. Finally, Nordea Investment Management AB grew its position in GE Vernova by 136.1% during the third quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock valued at $341,038,000 after purchasing an additional 323,481 shares in the last quarter.

GE Vernova Trading Down 0.6%

Shares of NYSE:GEV opened at $829.65 on Friday. The stock has a market capitalization of $223.62 billion, a PE ratio of 46.61, a P/E/G ratio of 3.30 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $846.00. The firm has a fifty day moving average price of $704.97 and a 200 day moving average price of $641.23.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.73 earnings per share. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is 11.24%.

Analyst Ratings Changes

A number of research firms have issued reports on GEV. The Goldman Sachs Group increased their target price on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Susquehanna upped their price target on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. TD Cowen increased their price objective on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Glj Research lifted their price objective on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Royal Bank Of Canada boosted their target price on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova 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.