Westfield Capital Management Co. LP Lowers Stock Holdings in GE Vernova Inc. $GEV

Westfield Capital Management Co. LP lessened its stake in GE Vernova Inc. (NYSE:GEV) by 18.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 265,736 shares of the company’s stock after selling 59,552 shares during the period. Westfield Capital Management Co. LP’s holdings in GE Vernova were worth $163,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GEV. Good Life Advisors LLC increased its holdings in shares of GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after purchasing an additional 16 shares during the period. Bell Investment Advisors Inc lifted its holdings in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares during the period. Northwest Wealth Management LLC grew its position in GE Vernova by 3.6% in the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after buying an additional 16 shares during the last quarter. AMG National Trust Bank increased its stake in GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after buying an additional 17 shares during the period. Finally, Traphagen Investment Advisors LLC increased its stake in GE Vernova by 1.2% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock valued at $872,000 after buying an additional 17 shares during the period.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $874.61 on Thursday. The firm has a market capitalization of $235.73 billion, a price-to-earnings ratio of 49.14, a price-to-earnings-growth ratio of 3.50 and a beta of 1.67. The business’s 50 day simple moving average is $716.98 and its 200-day simple moving average is $645.60. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be given a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GEV shares. Barclays restated an “overweight” rating and issued a $849.00 target price on shares of GE Vernova in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. TD Cowen boosted their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. BMO Capital Markets reissued an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Finally, Bank of America lifted their price target on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.