Wilmington Savings Fund Society FSB Trims Stake in GE Vernova Inc. $GEV

Wilmington Savings Fund Society FSB decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 32.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,635 shares of the company’s stock after selling 3,124 shares during the period. Wilmington Savings Fund Society FSB’s holdings in GE Vernova were worth $4,080,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GEV. Northwest Wealth Management LLC boosted its position in shares of GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares during the period. Traphagen Investment Advisors LLC raised its position in shares of GE Vernova by 1.2% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock valued at $872,000 after purchasing an additional 17 shares during the period. Navigoe LLC lifted its stake in shares of GE Vernova by 20.2% during the 3rd quarter. Navigoe LLC now owns 101 shares of the company’s stock valued at $62,000 after buying an additional 17 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period. Finally, Tritonpoint Wealth LLC boosted its holdings in GE Vernova by 1.7% in the 3rd quarter. Tritonpoint Wealth LLC now owns 994 shares of the company’s stock worth $611,000 after buying an additional 17 shares during the period.

GE Vernova Stock Performance

Shares of GEV opened at $856.81 on Thursday. The stock has a market capitalization of $230.93 billion, a PE ratio of 48.14, a P/E/G ratio of 3.36 and a beta of 1.45. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93. The company’s fifty day moving average is $769.86 and its 200 day moving average is $668.41.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

A number of research firms have commented on GEV. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Mizuho set a $714.00 target price on GE Vernova in a research report on Tuesday, February 3rd. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. The Goldman Sachs Group upped their price target on GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Rothschild & Co Redburn upgraded GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $831.29.

About GE Vernova

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.