Cresset Asset Management LLC Trims Holdings in GE Vernova Inc. (NYSE:GEV)

Cresset Asset Management LLC decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 91.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,423 shares of the company’s stock after selling 77,078 shares during the period. Cresset Asset Management LLC’s holdings in GE Vernova were worth $2,443,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of GE Vernova by 25.1% during the fourth quarter. Cetera Investment Advisers now owns 65,424 shares of the company’s stock valued at $21,520,000 after buying an additional 13,146 shares during the period. BROOKFIELD Corp ON purchased a new position in GE Vernova during the fourth quarter valued at approximately $3,463,000. Brevan Howard Capital Management LP increased its holdings in GE Vernova by 272.2% during the 4th quarter. Brevan Howard Capital Management LP now owns 10,134 shares of the company’s stock worth $3,333,000 after acquiring an additional 7,411 shares during the period. Bridgefront Capital LLC lifted its stake in GE Vernova by 43.8% in the 4th quarter. Bridgefront Capital LLC now owns 1,598 shares of the company’s stock worth $526,000 after purchasing an additional 487 shares in the last quarter. Finally, Bulltick Wealth Management LLC bought a new position in GE Vernova in the 4th quarter valued at $3,483,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $398.03 on Friday. The stock’s 50-day moving average is $330.33 and its 200 day moving average is $340.61. The company has a market cap of $108.64 billion and a PE ratio of 71.59. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s payout ratio is 14.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Guggenheim restated a “buy” rating and issued a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. Morgan Stanley reiterated an “overweight” rating and set a $422.00 target price (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Finally, Bank of America increased their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $369.22.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.