Bellwether Advisors LLC Sells 3,789 Shares of GE Vernova Inc. $GEV

Bellwether Advisors LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 34.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,217 shares of the company’s stock after selling 3,789 shares during the period. Bellwether Advisors LLC’s holdings in GE Vernova were worth $4,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC lifted its position in shares of 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 buying an additional 1,413 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after acquiring an additional 3,278 shares during the last quarter. Kercheville Advisors LLC lifted its holdings in 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 acquiring an additional 3,455 shares during the period. Rakuten Investment Management Inc. bought a new position in GE Vernova in the 3rd quarter valued at $18,601,000. Finally, US Bancorp DE grew its stake in GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after purchasing an additional 2,163 shares during the period.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a report on Monday, January 26th. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price on the stock in a research note on Friday, January 30th. Jefferies Financial Group reissued a “buy” rating and set a $930.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, UBS Group reiterated a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Price Performance

NYSE:GEV opened at $841.95 on Wednesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $894.93. The stock’s fifty day moving average price is $734.06 and its two-hundred day moving average price is $652.14. The company has a market cap of $226.93 billion, a P/E ratio of 47.30, a P/E/G ratio of 3.51 and a beta of 1.45.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

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.