Symphony Financial Ltd. Co. Sells 2,917 Shares of GE Vernova Inc. $GEV

Symphony Financial Ltd. Co. decreased its stake in GE Vernova Inc. (NYSE:GEV) by 82.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 626 shares of the company’s stock after selling 2,917 shares during the period. Symphony Financial Ltd. Co.’s holdings in GE Vernova were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new stake in GE Vernova during the 3rd quarter valued at approximately $6,861,000. Mn Services Vermogensbeheer B.V. lifted its position in shares of GE Vernova by 1.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 103,800 shares of the company’s stock worth $63,827,000 after purchasing an additional 1,700 shares during the period. Deseret Mutual Benefit Administrators boosted 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 valued at $33,000 after purchasing an additional 28 shares during the last quarter. UniSuper Management Pty Ltd increased its position in shares of GE Vernova by 163.6% during the third quarter. UniSuper Management Pty Ltd now owns 92,936 shares of the company’s stock worth $57,146,000 after buying an additional 57,684 shares during the period. Finally, Hunter Associates Investment Management LLC raised its stake in GE Vernova by 6.8% during the third quarter. Hunter Associates Investment Management LLC now owns 1,522 shares of the company’s stock worth $934,000 after buying an additional 97 shares during the last quarter.

GE Vernova Price Performance

GEV stock opened at $657.26 on Friday. The company’s 50-day moving average is $639.17 and its 200-day moving average is $617.23. The stock has a market capitalization of $178.33 billion, a PE ratio of 107.05, a price-to-earnings-growth ratio of 2.79 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) earnings per share. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is 32.57%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $761.00 target price on shares of GE Vernova in a report on Monday, December 22nd. Glj Research lifted their price objective on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Susquehanna upped their target price on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Barclays raised their target price on GE Vernova from $800.00 to $830.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $649.00 target price (down from $816.00) on shares of GE Vernova in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $701.62.

GE Vernova Company 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.