Wilmington Savings Fund Society FSB Cuts Holdings in GE Vernova Inc. $GEV

Wilmington Savings Fund Society FSB decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 32.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,635 shares of the company’s stock after selling 3,124 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in GE Vernova were worth $4,080,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. raised its position in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC purchased a new position in GE Vernova in the third quarter valued at about $25,000. Howard Hughes Medical Institute purchased a new position in GE Vernova in the second quarter valued at about $31,000. Bay Harbor Wealth Management LLC raised its holdings in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Finally, Monetary Management Group Inc. purchased a new stake in shares of GE Vernova during the second quarter valued at about $32,000.

GE Vernova Trading Up 1.5%

NYSE:GEV opened at $856.81 on Thursday. The company has a market capitalization of $230.93 billion, a P/E ratio of 48.14, a PEG ratio of 3.36 and a beta of 1.45. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93. The firm has a fifty day simple moving average of $769.86 and a 200-day simple moving average of $668.41.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping 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 company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on GEV. TD Cowen boosted their price objective 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. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target on the stock in a report on Friday, January 30th. Mizuho set a $714.00 price target on GE Vernova in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $817.00 price objective on shares of GE Vernova in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $831.29.

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.