GE Vernova Inc. (NYSE:GEV) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 834 shares of the company’s stock after selling 61 shares during the quarter. Annex Advisory Services LLC’s holdings in GE Vernova were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GEV. Norges Bank purchased a new position in GE Vernova during the fourth quarter worth approximately $1,109,720,000. Capital International Investors increased its stake in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the period.

GE Vernova Trading Up 0.6%

Shares of GEV opened at $487.06 on Friday. The firm has a market capitalization of $132.94 billion, a price-to-earnings ratio of 87.60, a PEG ratio of 3.03 and a beta of 1.97. The firm’s fifty day simple moving average is $389.72 and its 200-day simple moving average is $360.64. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $500.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.47) EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of analyst reports. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Robert W. Baird raised their price target on shares of GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Guggenheim reiterated a “buy” rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Finally, Susquehanna restated a “positive” rating and issued a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $385.78.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.