Massachusetts Financial Services Co. MA Trims Stock Holdings in GE Vernova Inc. $GEV

Massachusetts Financial Services Co. MA reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.9% during the third quarter, Holdings Channel reports. The institutional investor owned 1,918,959 shares of the company’s stock after selling 77,060 shares during the period. Massachusetts Financial Services Co. MA’s holdings in GE Vernova were worth $1,179,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in shares of GE Vernova in the second quarter worth approximately $29,000. Howard Hughes Medical Institute bought a new stake in shares of GE Vernova during the 2nd quarter valued at $31,000. Bay Harbor Wealth Management LLC lifted its stake in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. Monetary Management Group Inc. bought a new position in GE Vernova in the 2nd quarter worth $32,000. Finally, Elevation Wealth Partners LLC boosted its holdings in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period.

GE Vernova Stock Up 6.2%

GEV stock opened at $681.78 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The firm has a market capitalization of $184.98 billion, a P/E ratio of 111.04, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67. The company has a fifty day simple moving average of $629.47 and a two-hundred day simple moving average of $611.97.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the firm earned ($0.35) earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is presently 32.57%.

Analyst Ratings Changes

A number of equities research analysts have commented on GEV shares. Jefferies Financial Group set a $830.00 price target on GE Vernova in a report on Monday, December 22nd. Bank of America lifted their target price on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $649.00 price objective (down from $816.00) on shares of GE Vernova in a report on Friday, January 9th. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $703.04.

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.