Symphony Financial Ltd. Co. Has $383,000 Stock Holdings in GE Vernova Inc. $GEV

Symphony Financial Ltd. Co. trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 82.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 626 shares of the company’s stock after selling 2,917 shares during the period. Symphony Financial Ltd. Co.’s holdings in GE Vernova were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEV. Norges Bank bought a new stake in GE Vernova during the 2nd quarter worth approximately $1,809,220,000. Arrowstreet Capital Limited Partnership boosted its position in shares of GE Vernova by 273.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after buying an additional 1,104,747 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after buying an additional 675,629 shares in the last quarter. Invesco Ltd. lifted its stake in GE Vernova by 26.3% during the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after acquiring an additional 462,038 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in GE Vernova by 66.0% during the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock worth $499,817,000 after acquiring an additional 375,677 shares during the last quarter.

GE Vernova Stock Down 0.7%

GEV opened at $657.26 on Friday. The stock has a market cap of $178.33 billion, a price-to-earnings ratio of 107.05, a PEG ratio of 2.79 and a beta of 1.67. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The company’s 50-day moving average price is $639.17 and its two-hundred day moving average price is $617.23.

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

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio is currently 32.57%.

Analyst Ratings Changes

Several analysts have recently commented on GEV shares. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. BMO Capital Markets lifted their target price on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research note on Thursday. Finally, TD Cowen reaffirmed a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $701.62.

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.