GE Vernova Inc. $GEV Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its position in GE Vernova Inc. (NYSE:GEV) by 62.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,345 shares of the company’s stock after selling 2,240 shares during the quarter. SVB Wealth LLC’s holdings in GE Vernova were worth $712,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new position in GE Vernova during the 2nd quarter worth approximately $29,000. 1248 Management LLC acquired a new stake in shares of GE Vernova in the first quarter worth $31,000. Howard Hughes Medical Institute purchased a new position in shares of GE Vernova during the second quarter worth $31,000. Saudi Central Bank acquired a new position in GE Vernova during the first quarter valued at $33,000. Finally, Ransom Advisory Ltd acquired a new position in GE Vernova during the first quarter valued at $33,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GEV. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday. Barclays lifted their target price on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Jefferies Financial Group reissued a “hold” rating and set a $654.00 price target on shares of GE Vernova in a report on Monday, October 27th. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. Finally, HSBC increased their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $640.11.

GE Vernova Stock Up 0.5%

GEV stock opened at $625.02 on Wednesday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a 50-day simple moving average of $591.25 and a 200-day simple moving average of $578.74. The stock has a market capitalization of $169.58 billion, a P/E ratio of 101.79, a P/E/G ratio of 4.63 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio is presently 16.29%.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.