Rathbones Group PLC Cuts Position in GE Vernova Inc. $GEV

Rathbones Group PLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 26.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 49,605 shares of the company’s stock after selling 17,704 shares during the period. Rathbones Group PLC’s holdings in GE Vernova were worth $43,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. Brighton Jones LLC grew its position in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. raised its position in GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares during the period. Jump Financial LLC bought a new stake in GE Vernova in the second quarter worth about $258,000. Ossiam purchased a new position in GE Vernova in the second quarter valued at about $42,000. Finally, Nebula Research & Development LLC boosted its stake in GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after acquiring an additional 323 shares during the last quarter.

GE Vernova Stock Up 0.0%

Shares of GEV opened at $990.30 on Monday. The firm has a market cap of $263.75 billion, a P/E ratio of 28.34, a P/E/G ratio of 3.56 and a beta of 1.09. The stock has a 50 day simple moving average of $1,028.05 and a two-hundred day simple moving average of $934.82. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share. On average, analysts forecast that GE Vernova Inc. will post 15.46 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is currently 5.72%.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

GEV has been the subject of several research analyst reports. Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Sanford C. Bernstein upped their price objective on GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Guggenheim increased their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Robert W. Baird lifted their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold 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 $1,133.15.

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.