GE Vernova Inc. $GEV Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,913 shares of the company’s stock after selling 976 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in GE Vernova were worth $41,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG increased its holdings in shares of GE Vernova by 37.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock worth $27,116,000 after buying an additional 6,313 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $8,337,000. Sapient Capital LLC lifted its holdings in shares of GE Vernova by 31.4% in the 2nd quarter. Sapient Capital LLC now owns 76,038 shares of the company’s stock valued at $89,372,000 after acquiring an additional 18,188 shares during the last quarter. Processus Wealth & Capital Management LLC bought a new position in shares of GE Vernova in the 2nd quarter valued at about $2,699,000. Finally, Field & Main Bank purchased a new position in GE Vernova in the second quarter worth about $3,018,000.

GE Vernova Trading Down 0.8%

Shares of GEV traded down $7.32 during midday trading on Tuesday, hitting $901.12. The stock had a trading volume of 1,465,216 shares, compared to its average volume of 2,632,829. The stock’s 50 day moving average is $961.19 and its 200 day moving average is $1,002.63. The firm has a market cap of $240.00 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 earnings per share. As a group, analysts forecast that GE Vernova Inc. will post 15.04 EPS for the current fiscal 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s dividend payout ratio is presently 5.72%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEV. Sanford C. Bernstein reissued an “outperform” rating and set a $1,298.00 price objective (up from $1,206.00) on shares of GE Vernova in a research note on Tuesday, September 15th. TD Cowen upped their price objective on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. 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. Guggenheim reiterated a “buy” rating and issued a $1,450.00 target price on shares of GE Vernova in a report on Tuesday, October 13th. Finally, The Goldman Sachs Group upgraded GE Vernova from a “buy” rating to a “market outperform” rating in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.