GE Vernova Inc. $GEV Stock Sold by Grandview Asset Management LLC

Grandview Asset Management LLC reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 18.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,370 shares of the company’s stock after selling 552 shares during the period. Grandview Asset Management LLC’s holdings in GE Vernova were worth $2,253,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Warwick Investment Management Inc. grew its holdings in shares of GE Vernova by 5.2% during the third quarter. Warwick Investment Management Inc. now owns 406 shares of the company’s stock valued at $386,000 after purchasing an additional 20 shares during the last quarter. Secure Asset Management LLC raised its position in shares of GE Vernova by 1.4% during the 3rd quarter. Secure Asset Management LLC now owns 3,771 shares of the company’s stock worth $3,584,000 after purchasing an additional 52 shares during the period. Worth Financial Advisory Group LLC raised its position in shares of GE Vernova by 10.4% during the 3rd quarter. Worth Financial Advisory Group LLC now owns 872 shares of the company’s stock worth $829,000 after purchasing an additional 82 shares during the period. Tanager Wealth Management LLP raised its position in shares of GE Vernova by 28.6% during the 3rd quarter. Tanager Wealth Management LLP now owns 256 shares of the company’s stock worth $243,000 after purchasing an additional 57 shares during the period. Finally, Novem Group lifted its holdings in shares of GE Vernova by 1.2% in the 3rd quarter. Novem Group now owns 984 shares of the company’s stock worth $935,000 after purchasing an additional 12 shares during the last quarter.

GE Vernova Trading Down 1.5%

GE Vernova stock opened at $907.78 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $961.19 and a two-hundred day moving average price of $1,002.63. The firm has a market capitalization of $241.77 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 3.19 and a beta of 1.14. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter last year, the company posted $1.86 EPS. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts expect that GE Vernova Inc. will post 15.04 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s payout ratio is 5.72%.

Analyst Ratings Changes

Several analysts recently issued reports on GEV shares. Jefferies Financial Group reissued a “buy” rating and issued a $1,185.00 price target (up from $1,155.00) on shares of GE Vernova in a report on Thursday, September 17th. Evercore restated an “outperform” rating and set a $1,350.00 price objective on shares of GE Vernova in a research note on Thursday, October 1st. Citigroup lowered their price objective on GE Vernova from $1,219.00 to $1,125.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. JPMorgan Chase & Co. dropped their target price on GE Vernova from $1,330.00 to $1,150.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Finally, President Capital raised their target price on GE Vernova from $1,368.00 to $1,398.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $1,164.87.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.