GE Vernova Inc. $GEV Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 34.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,483 shares of the company’s stock after selling 5,002 shares during the quarter. Essex Investment Management Co. LLC’s holdings in GE Vernova were worth $5,831,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Bay Harbor Wealth Management LLC raised its holdings in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Elevation Wealth Partners LLC increased its position in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of GE Vernova by 112.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 28 shares during the period. WFA Asset Management Corp acquired a new stake in shares of GE Vernova during the second quarter valued at approximately $29,000. Finally, Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $31,000.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. Glj Research lifted their price target on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a report on Monday, January 12th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Bank of America lifted their target price on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Stock Up 2.8%

NYSE GEV opened at $801.25 on Tuesday. The stock has a market capitalization of $215.96 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 3.10 and a beta of 1.67. The company has a 50 day moving average price of $674.49 and a two-hundred day moving average price of $630.80. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $814.86.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the prior year, the business posted $1.73 EPS. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were issued a $0.50 dividend. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 11.24%.

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.