GGM Financials LLC Decreases Stake in GE Vernova Inc. $GEV

GGM Financials LLC cut its position in GE Vernova Inc. (NYSE:GEV) by 96.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93 shares of the company’s stock after selling 2,272 shares during the quarter. GGM Financials LLC’s holdings in GE Vernova were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GEV. Vanguard Group Inc. lifted its stake in GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after buying an additional 150,892 shares during the last quarter. State Street Corp increased its position in shares of GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after purchasing an additional 206,650 shares during the period. Geode Capital Management LLC lifted its holdings in GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after acquiring an additional 129,315 shares during the last quarter. Norges Bank bought a new position in shares of GE Vernova during the 2nd quarter valued at about $1,809,220,000. Finally, Invesco Ltd. grew its stake in shares of GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after purchasing an additional 462,038 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $879.25 on Wednesday. The stock’s 50 day simple moving average is $711.80 and its 200 day simple moving average is $643.99. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $879.89. The company has a market capitalization of $236.98 billion, a price-to-earnings ratio of 49.40, a PEG ratio of 3.31 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $10.21 billion. During the same period last year, the business posted $1.73 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on GEV. The Goldman Sachs Group raised their target price on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $785.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. Citigroup lifted their target price on shares of GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, Wells Fargo & Company upped their price target on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Company 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.