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

Victory Capital Management Inc. lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,139,115 shares of the company’s stock after selling 66,329 shares during the period. Victory Capital Management Inc.’s holdings in GE Vernova were worth $700,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. lifted its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in shares of GE Vernova in the 2nd quarter valued at $31,000. Bay Harbor Wealth Management LLC raised its position in GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Monetary Management Group Inc. acquired a new stake in GE Vernova during the 2nd quarter worth $32,000. Finally, Elevation Wealth Partners LLC grew its position in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research reports. Citigroup upped their target price on shares of GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. TD Cowen lifted their target price on GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a research note on Friday, January 30th. Finally, Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

Shares of GEV stock opened at $881.83 on Tuesday. The business’s fifty day moving average price is $730.43 and its 200 day moving average price is $650.58. The firm has a market capitalization of $237.68 billion, a PE ratio of 49.54, a P/E/G ratio of 3.48 and a beta of 1.44. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $894.93.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $10.21 billion. During the same period in the previous year, the firm earned $1.73 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders 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 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 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.