Merrion Investment Management Co LLC Sells 515 Shares of GE Vernova Inc. (NYSE:GEV)

Merrion Investment Management Co LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,710 shares of the company’s stock after selling 515 shares during the period. GE Vernova comprises 1.3% of Merrion Investment Management Co LLC’s holdings, making the stock its 21st largest position. Merrion Investment Management Co LLC’s holdings in GE Vernova were worth $1,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Plimoth Trust Co. LLC grew its stake in shares of GE Vernova by 7.2% during the 1st quarter. Plimoth Trust Co. LLC now owns 3,515 shares of the company’s stock worth $1,073,000 after acquiring an additional 236 shares in the last quarter. HCR Wealth Advisors grew its position in GE Vernova by 24.7% in the first quarter. HCR Wealth Advisors now owns 993 shares of the company’s stock valued at $303,000 after purchasing an additional 197 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in GE Vernova by 3.1% in the first quarter. Premier Path Wealth Partners LLC now owns 1,543 shares of the company’s stock valued at $471,000 after purchasing an additional 47 shares in the last quarter. Friedenthal Financial grew its position in GE Vernova by 990.4% in the first quarter. Friedenthal Financial now owns 3,413 shares of the company’s stock valued at $1,042,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Davidson Capital Management Inc. bought a new position in shares of GE Vernova in the 1st quarter valued at about $2,763,000.

GE Vernova Stock Up 0.3%

Shares of NYSE:GEV opened at $490.12 on Thursday. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $500.72. The stock has a market cap of $133.77 billion, a PE ratio of 70.62, a P/E/G ratio of 3.79 and a beta of 1.97. The business has a 50 day moving average of $418.66 and a 200-day moving average of $368.60.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The business 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 10.10% and a net margin of 5.42%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. GE Vernova’s payout ratio is presently 14.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Susquehanna restated a “positive” rating and issued a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Morgan Stanley restated an “overweight” rating and issued a $422.00 price target (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Finally, Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and raised their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $404.56.

About GE Vernova

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.