Platform Technology Partners Sells 1,179 Shares of GE Vernova Inc. $GEV

Platform Technology Partners cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 43.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,551 shares of the company’s stock after selling 1,179 shares during the quarter. Platform Technology Partners’ holdings in GE Vernova were worth $954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the period. UMB Bank n.a. raised its position in shares of GE Vernova by 6.4% during the 2nd quarter. UMB Bank n.a. now owns 2,265 shares of the company’s stock valued at $1,199,000 after purchasing an additional 136 shares during the period. CX Institutional lifted its stake in shares of GE Vernova by 6.4% during the 2nd quarter. CX Institutional now owns 1,922 shares of the company’s stock valued at $1,017,000 after buying an additional 115 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in GE Vernova in the 2nd quarter worth $287,000. Finally, Farther Finance Advisors LLC increased its stake in GE Vernova by 54.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,348 shares of the company’s stock worth $3,359,000 after buying an additional 2,235 shares in the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $681.78 on Tuesday. The company has a market cap of $184.98 billion, a price-to-earnings ratio of 111.04, a PEG ratio of 2.85 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The stock’s 50 day simple moving average is $631.50 and its two-hundred day simple moving average is $613.89.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the company posted ($0.35) earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is 32.57%.

Analysts Set New Price Targets

GEV has been the topic of several research analyst reports. Mizuho lowered their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Evercore ISI initiated coverage on GE Vernova in a research note on Monday, December 15th. They set an “outperform” rating and a $860.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. UBS Group increased their price objective on shares of GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, Wells Fargo & Company boosted their target price on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $703.04.

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.