Rhumbline Advisers Sells 8,504 Shares of GE Vernova Inc. $GEV

Rhumbline Advisers decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.7% during the 3rd quarter, Holdings Channel reports. The firm owned 496,461 shares of the company’s stock after selling 8,504 shares during the quarter. Rhumbline Advisers’ holdings in GE Vernova were worth $305,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GEV. Krilogy Financial LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at about $3,073,000. Advisors Asset Management Inc. increased its stake in GE Vernova by 9.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 37,914 shares of the company’s stock valued at $23,313,000 after purchasing an additional 3,171 shares in the last quarter. Magnolia Private Wealth LLC acquired a new position in GE Vernova during the third quarter worth $221,000. Signet Investment Advisory Group Inc. raised its holdings in GE Vernova by 18.2% during the third quarter. Signet Investment Advisory Group Inc. now owns 494 shares of the company’s stock worth $304,000 after buying an additional 76 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of GE Vernova by 20.5% in the third quarter. Stratos Wealth Partners LTD. now owns 13,476 shares of the company’s stock valued at $8,287,000 after buying an additional 2,294 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GEV shares. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Robert W. Baird set a $923.00 price objective on GE Vernova and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Glj Research raised their target price on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a report on Monday, January 12th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Mizuho set a $714.00 price objective on GE Vernova in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Performance

Shares of GEV opened at $790.62 on Wednesday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $814.86. The stock’s 50-day simple moving average is $678.26 and its 200 day simple moving average is $631.83. The stock has a market capitalization of $213.10 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $1.73 EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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 paid a $0.50 dividend. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, January 5th. GE Vernova’s payout ratio is 11.24%.

GE Vernova Company 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.