GE Vernova Inc. $GEV Shares Sold by GAMMA Investing LLC
by Kim Johansen · The Markets DailyGAMMA Investing LLC cut its stake in GE Vernova Inc. (NYSE:GEV – Free Report) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,691 shares of the company’s stock after selling 964 shares during the period. GAMMA Investing LLC’s holdings in GE Vernova were worth $5,027,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. raised its position in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter worth about $25,000. Howard Hughes Medical Institute acquired a new position in shares of GE Vernova during the second quarter worth about $31,000. Bay Harbor Wealth Management LLC increased its stake in shares of GE Vernova by 537.5% during the third 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. Finally, Monetary Management Group Inc. purchased a new stake in shares of GE Vernova during the second quarter worth approximately $32,000.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on GEV shares. Citigroup lifted their price target on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Rothschild & Co Redburn raised shares of GE Vernova from a “sell” rating to a “buy” rating and increased their price objective for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. Mizuho set a $714.00 price objective on shares of GE Vernova in a report on Tuesday, February 3rd. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Susquehanna boosted their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $831.29.
Read Our Latest Research Report on GEV
GE Vernova Stock Performance
GEV opened at $856.81 on Thursday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93. The stock has a market capitalization of $230.93 billion, a P/E ratio of 48.14, a price-to-earnings-growth ratio of 3.36 and a beta of 1.45. The business’s 50-day simple moving average is $769.86 and its 200-day simple moving average is $668.41.
GE Vernova (NYSE:GEV – Get Free Report) last announced its earnings results 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. 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%.The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The company also recently disclosed 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 of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.
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.
See Also
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