Sigma Planning Corp Trims Holdings in GE Vernova Inc. $GEV

Sigma Planning Corp reduced its stake in GE Vernova Inc. (NYSE:GEV) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,657 shares of the company’s stock after selling 1,524 shares during the quarter. Sigma Planning Corp’s holdings in GE Vernova were worth $5,938,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. OneDigital Investment Advisors LLC boosted its position in shares of GE Vernova by 7.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,998 shares of the company’s stock valued at $3,073,000 after acquiring an additional 341 shares during the last quarter. Intrust Bank NA raised its stake in GE Vernova by 30.5% during the third quarter. Intrust Bank NA now owns 2,513 shares of the company’s stock worth $1,545,000 after purchasing an additional 587 shares during the period. Princeton Capital Management LLC raised its stake in GE Vernova by 1.4% during the third quarter. Princeton Capital Management LLC now owns 9,289 shares of the company’s stock worth $5,712,000 after purchasing an additional 126 shares during the period. Advyzon Investment Management LLC boosted its holdings in GE Vernova by 28.6% in the 3rd quarter. Advyzon Investment Management LLC now owns 490 shares of the company’s stock valued at $301,000 after purchasing an additional 109 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of GE Vernova by 30.0% in the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 1,300 shares of the company’s stock valued at $799,000 after buying an additional 300 shares during the period.

Analysts Set New Price Targets

GEV has been the topic of a number of recent analyst reports. Weiss Ratings upgraded GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Glj Research raised their price objective on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Bank of America upped their target price on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. One 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 assigned a Sell rating to the stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Trading Down 0.6%

GEV opened at $829.65 on Friday. The stock’s 50-day moving average price is $704.97 and its 200 day moving average price is $641.23. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $846.00. The firm has a market cap of $223.62 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 3.30 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. The company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.GE Vernova’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm 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 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 yield of 0.2%. GE Vernova’s dividend payout ratio is 11.24%.

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.