GE Vernova Inc. $GEV Shares Sold by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 13.4% during the third quarter, Holdings Channel.com reports. The fund owned 14,724 shares of the company’s stock after selling 2,275 shares during the period. GE Vernova accounts for 1.0% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 27th largest holding. Neville Rodie & Shaw Inc.’s holdings in GE Vernova were worth $13,995,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in GE Vernova in the 2nd quarter valued at about $25,569,630,000. State Street Corp lifted its stake in shares of GE Vernova by 3.3% during the second quarter. State Street Corp now owns 11,765,340 shares of the company’s stock valued at $13,828,380,000 after buying an additional 370,842 shares during the period. Bank of America Corp DE acquired a new stake in GE Vernova during the second quarter worth approximately $2,961,612,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova in the 2nd quarter worth approximately $2,497,472,000. Finally, Jupiter Topco LLC acquired a new position in GE Vernova in the 2nd quarter valued at $2,371,538,000.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank Of Canada lifted their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. TD Cowen raised their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Glj Research assumed coverage on shares of GE Vernova in a report on Monday, September 14th. They issued a “sell” rating and a $470.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,171.87.

GE Vernova Stock Up 0.3%

NYSE:GEV traded up $2.66 during trading hours on Monday, hitting $991.36. The stock had a trading volume of 903,866 shares, compared to its average volume of 2,650,526. The company has a market cap of $264.03 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 3.35 and a beta of 1.14. The business has a 50 day simple moving average of $963.65 and a two-hundred day simple moving average of $994.45. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 earnings per share. Analysts predict that GE Vernova Inc. will post 15.38 EPS for the current year.

GE Vernova Announces Dividend

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

GE Vernova Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.