GE Vernova Inc. $GEV Stock Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 2.2% during the third quarter, Holdings Channel.com reports. The fund owned 43,913 shares of the company’s stock after selling 976 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in GE Vernova were worth $41,739,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GEV. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of GE Vernova by 37.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock worth $27,116,000 after buying an additional 6,313 shares during the period. Citizens Financial Group Inc. RI purchased a new position in shares of GE Vernova during the second quarter valued at $8,337,000. Sapient Capital LLC increased its stake in shares of GE Vernova by 31.4% during the second quarter. Sapient Capital LLC now owns 76,038 shares of the company’s stock valued at $89,372,000 after buying an additional 18,188 shares during the period. Processus Wealth & Capital Management LLC bought a new stake in shares of GE Vernova in the second quarter valued at about $2,699,000. Finally, Field & Main Bank bought a new stake in shares of GE Vernova in the second quarter valued at about $3,018,000.

GE Vernova Stock Down 0.8%

Shares of NYSE GEV traded down $7.32 during mid-day trading on Tuesday, reaching $901.12. 1,465,216 shares of the company were exchanged, compared to its average volume of 2,632,829. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The stock has a market cap of $240.00 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 3.19 and a beta of 1.14. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The firm has a 50-day moving average of $961.19 and a 200 day moving average of $1,002.63.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the previous year, the business earned $1.86 EPS. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 15.04 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s dividend payout ratio (DPR) is currently 5.72%.

Analyst Ratings Changes

A number of analysts recently weighed in on GEV shares. Mizuho upped their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their target price on shares of GE Vernova from $1,330.00 to $1,150.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. TD Cowen boosted their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. President Capital upped their price target on shares of GE Vernova from $1,368.00 to $1,398.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Citigroup dropped their price objective on shares of GE Vernova from $1,219.00 to $1,125.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,164.87.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.