GE Vernova Inc. $GEV Stock Position Cut by Natixis Advisors LLC

Natixis Advisors LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,425 shares of the company’s stock after selling 5,103 shares during the quarter. Natixis Advisors LLC’s holdings in GE Vernova were worth $160,135,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. grew its stake in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Howard Hughes Medical Institute purchased a new position in GE Vernova in the 2nd quarter worth about $31,000. Bay Harbor Wealth Management LLC raised its holdings in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Monetary Management Group Inc. acquired a new stake in shares of GE Vernova during the second quarter valued at approximately $32,000. Finally, Elevation Wealth Partners LLC raised its stake in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GEV shares. Evercore upped their target price on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Robert W. Baird set a $923.00 price target on GE Vernova and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Erste Group Bank started coverage on shares of GE Vernova in a research note on Thursday. They issued a “buy” rating for the company. Weiss Ratings raised GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Finally, Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $805.25.

GE Vernova Trading Down 3.1%

GEV stock opened at $790.00 on Friday. The business’s 50 day moving average is $743.08 and its 200-day moving average is $656.12. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $894.93. The firm has a market cap of $212.93 billion, a P/E ratio of 44.38, a P/E/G ratio of 3.14 and a beta of 1.45.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period last year, the business earned $1.73 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s payout ratio is presently 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.