GE Vernova Inc. $GEV Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,139,115 shares of the company’s stock after selling 66,329 shares during the period. Victory Capital Management Inc. owned approximately 0.42% of GE Vernova worth $700,064,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in GE Vernova in the second quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership grew its stake in shares of GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after buying an additional 1,104,747 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of GE Vernova by 771.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after buying an additional 675,629 shares during the period. Invesco Ltd. lifted its stake in GE Vernova by 26.3% during the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in GE Vernova by 66.0% during the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock valued at $499,817,000 after acquiring an additional 375,677 shares during the period.

GE Vernova Price Performance

NYSE:GEV opened at $881.83 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93. The firm has a market capitalization of $237.68 billion, a PE ratio of 49.54, a price-to-earnings-growth ratio of 3.48 and a beta of 1.44. The business’s fifty day moving average price is $730.43 and its 200 day moving average price is $650.58.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the prior year, the firm posted $1.73 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. TD Cowen boosted their price target on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Susquehanna upped their target price 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. Wells Fargo & Company increased their target price on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Morgan Stanley reissued an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a research report on Monday, January 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $788.24.

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.