Cornerstone Advisors LLC Lowers Stock Holdings in GE Vernova Inc. $GEV

Cornerstone Advisors LLC lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 54.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,025 shares of the company’s stock after selling 7,175 shares during the period. Cornerstone Advisors LLC’s holdings in GE Vernova were worth $3,705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of GE Vernova during the 2nd quarter valued at about $79,857,000. Phoenix Financial Ltd. purchased a new position in shares of GE Vernova during the second quarter worth about $806,000. Finally, D.A. Davidson & CO. increased its position in shares of GE Vernova by 14.4% in the second quarter. D.A. Davidson & CO. now owns 8,036 shares of the company’s stock worth $4,252,000 after purchasing an additional 1,010 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GEV. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. Citigroup lifted their price objective on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Glj Research raised their price target on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada upped their price objective on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Trading Down 0.0%

Shares of NYSE:GEV opened at $818.88 on Thursday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $846.00. The stock’s 50-day moving average price is $699.24 and its 200-day moving average price is $638.78. The stock has a market capitalization of $220.71 billion, a P/E ratio of 46.00, a price-to-earnings-growth ratio of 3.26 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, topping analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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