Cornerstone Advisors LLC Sells 7,175 Shares of GE Vernova Inc. $GEV

Cornerstone Advisors LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 54.4% in the third quarter, Holdings Channel.com reports. The fund owned 6,025 shares of the company’s stock after selling 7,175 shares during the period. Cornerstone Advisors LLC’s holdings in GE Vernova were worth $3,705,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GEV. Synergy Asset Management LLC grew its holdings in shares of GE Vernova by 300.0% during the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,413 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after purchasing an additional 3,278 shares in the last quarter. Kercheville Advisors LLC raised its holdings in GE Vernova by 238.3% in the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after purchasing an additional 3,455 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in GE Vernova in the third quarter worth $18,601,000. Finally, Nordea Investment Management AB lifted its position in GE Vernova by 136.1% during the third quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock valued at $341,038,000 after buying an additional 323,481 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research reports. Susquehanna increased their price target on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a report on Thursday, January 29th. Jefferies Financial Group restated a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Glj Research raised their price objective on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Performance

GEV opened at $818.88 on Thursday. The company’s 50-day simple moving average is $699.24 and its two-hundred day simple moving average is $638.78. The stock has a market capitalization of $220.71 billion, a P/E ratio of 46.00, a P/E/G ratio of 3.26 and a beta of 1.67. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $846.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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