Segment Wealth Management LLC Sells 915 Shares of GE Vernova Inc. $GEV

Segment Wealth Management LLC lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 66,808 shares of the company’s stock after selling 915 shares during the period. GE Vernova makes up approximately 2.5% of Segment Wealth Management LLC’s investment portfolio, making the stock its 6th biggest holding. Segment Wealth Management LLC’s holdings in GE Vernova were worth $41,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. WFA Asset Management Corp acquired a new stake in shares of GE Vernova during the second quarter worth approximately $29,000. 1248 Management LLC acquired a new position in shares of GE Vernova in the 1st quarter worth approximately $31,000. Howard Hughes Medical Institute bought a new stake in GE Vernova during the 2nd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC increased 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 valued at $31,000 after purchasing an additional 43 shares in the last quarter. Finally, Monetary Management Group Inc. acquired a new stake in GE Vernova during the 2nd quarter valued at $32,000.

GE Vernova Trading Down 0.0%

GE Vernova stock opened at $663.30 on Tuesday. The company has a market cap of $179.97 billion, a PE ratio of 108.03, a PEG ratio of 5.06 and a beta of 1.71. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The company’s 50-day moving average is $606.71 and its two-hundred day moving average is $597.35.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the firm earned ($0.35) EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is presently 16.29%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group boosted their price objective on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. HSBC lifted their price target on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a report on Monday, September 15th. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Finally, Evercore ISI assumed coverage on shares of GE Vernova in a research report on Monday, December 15th. They set an “outperform” rating and a $860.00 target price on the stock. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $691.11.

About GE Vernova

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.