Waratah Capital Advisors Ltd. Sells 3,588 Shares of GE Vernova Inc. $GEV

Waratah Capital Advisors Ltd. reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 90.9% during the third quarter, Holdings Channel reports. The fund owned 360 shares of the company’s stock after selling 3,588 shares during the period. Waratah Capital Advisors Ltd.’s holdings in GE Vernova were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Jackson Grant Investment Advisers Inc. grew its holdings in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Bay Harbor Wealth Management LLC lifted its holdings in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in shares of GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of GE Vernova by 112.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after buying an additional 28 shares during the last quarter. Finally, Howard Hughes Medical Institute bought a new position in GE Vernova during the 2nd quarter valued at approximately $31,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a $930.00 target price on shares of GE Vernova in a report on Thursday, January 29th. Bank of America lifted their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a research report on Friday, January 30th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Down 0.6%

Shares of GEV opened at $874.61 on Thursday. The business has a 50-day simple moving average of $716.98 and a two-hundred day simple moving average of $645.60. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93. The stock has a market cap of $235.73 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 3.50 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period in the previous year, the company posted $1.73 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 11.24%.

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.