Reaves W H & Co. Inc. Lowers Holdings in GE Vernova Inc. $GEV

Reaves W H & Co. Inc. decreased its position in GE Vernova Inc. (NYSE:GEV) by 25.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the company’s stock after selling 5,000 shares during the period. Reaves W H & Co. Inc.’s holdings in GE Vernova were worth $9,224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GEV. Vanguard Group Inc. increased its position in shares of GE Vernova by 1.1% during the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after acquiring an additional 271,958 shares in the last quarter. State Street Corp boosted its stake in GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after purchasing an additional 206,650 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after purchasing an additional 129,315 shares in the last quarter. Norges Bank purchased a new position in shares of GE Vernova in the second quarter worth $1,809,220,000. Finally, Invesco Ltd. lifted its holdings in shares of GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after purchasing an additional 462,038 shares in the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $801.25 on Tuesday. The business’s fifty day moving average is $674.49 and its 200 day moving average is $630.80. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $814.86. The company has a market capitalization of $215.96 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 3.10 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 EPS for the quarter, topping 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 business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the business posted $1.73 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were given a $0.50 dividend. The ex-dividend date was Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TD Cowen boosted their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Evercore boosted their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. BMO Capital Markets restated an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a research report on Thursday, January 29th. Rothschild & Co Redburn set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Finally, Glj Research boosted their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average 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.