ZEGA Investments LLC Sells 1,405 Shares of GE Vernova Inc. $GEV

ZEGA Investments LLC lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 44.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,722 shares of the company’s stock after selling 1,405 shares during the period. ZEGA Investments LLC’s holdings in GE Vernova were worth $1,059,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. WFA Asset Management Corp bought a new stake in shares of GE Vernova in the 2nd quarter valued at $29,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova in the second quarter worth $31,000. Bay Harbor Wealth Management LLC increased its stake in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Monetary Management Group Inc. acquired a new position in shares of GE Vernova during the second quarter valued at about $32,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $640.17 on Tuesday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The firm has a 50-day moving average price of $621.72 and a two-hundred day moving average price of $608.79. The firm has a market cap of $173.69 billion, a price-to-earnings ratio of 104.26, a price-to-earnings-growth ratio of 2.61 and a beta of 1.67.

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

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio is currently 32.57%.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. Robert W. Baird reaffirmed a “neutral” rating and set a $649.00 price target (down from $816.00) on shares of GE Vernova in a research note on Friday. TD Cowen decreased their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Citigroup increased their target price on GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company boosted their price target on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price objective on the stock in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $703.04.

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.