LaFleur & Godfrey LLC Cuts Stake in GE Vernova Inc. $GEV

LaFleur & Godfrey LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 12.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,097 shares of the company’s stock after selling 2,511 shares during the quarter. GE Vernova makes up about 1.3% of LaFleur & Godfrey LLC’s investment portfolio, making the stock its 27th largest position. LaFleur & Godfrey LLC’s holdings in GE Vernova were worth $11,128,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Norges Bank purchased a new position in shares of GE Vernova during the second quarter valued at about $1,809,220,000. Arrowstreet Capital Limited Partnership boosted its stake in 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 boosted its stake in GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after buying an additional 675,629 shares during the last quarter. Invesco Ltd. grew its holdings 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 buying an additional 462,038 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in GE Vernova by 66.0% in 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 Trading Down 0.6%

GE Vernova stock opened at $829.65 on Monday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $846.00. The firm has a 50-day moving average price of $704.97 and a 200-day moving average price of $641.07. The firm has a market capitalization of $223.62 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 3.30 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 EPS. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared 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 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group reiterated a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Glj Research upped their price target on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Finally, Bank of America lifted their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

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.