Waratah Capital Advisors Ltd. Sells 3,588 Shares of GE Vernova Inc. $GEV

Waratah Capital Advisors Ltd. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 90.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360 shares of the company’s stock after selling 3,588 shares during the period. Waratah Capital Advisors Ltd.’s holdings in GE Vernova were worth $221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aldebaran Capital LLC acquired a new stake in GE Vernova during the third quarter worth approximately $204,000. Patten Group Inc. increased its position in GE Vernova by 39.0% during the 3rd quarter. Patten Group Inc. now owns 3,116 shares of the company’s stock worth $1,916,000 after purchasing an additional 874 shares in the last quarter. First American Trust FSB lifted its stake in GE Vernova by 19.6% in the 3rd quarter. First American Trust FSB now owns 489 shares of the company’s stock valued at $301,000 after purchasing an additional 80 shares during the last quarter. Rice Partnership LLC boosted its holdings in shares of GE Vernova by 86.3% during the 3rd quarter. Rice Partnership LLC now owns 15,491 shares of the company’s stock valued at $9,525,000 after acquiring an additional 7,177 shares in the last quarter. Finally, Mufg Securities Americas Inc. increased its stake in shares of GE Vernova by 21.4% in the third quarter. Mufg Securities Americas Inc. now owns 7,341 shares of the company’s stock valued at $4,514,000 after buying an additional 1,292 shares during the period.

GE Vernova Stock Performance

NYSE:GEV opened at $874.61 on Thursday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93. The stock has a fifty day moving average of $716.98 and a 200 day moving average of $645.60. The firm has a market capitalization of $235.73 billion, a price-to-earnings ratio of 49.14, a P/E/G ratio of 3.50 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter last year, the company posted $1.73 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors 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 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 11.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. UBS Group reiterated a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Weiss Ratings upgraded GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Finally, Mizuho set a $714.00 target price on GE Vernova in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

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.