GE Vernova Inc. $GEV Shares Sold by Holocene Advisors LP

Holocene Advisors LP decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 66.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,768 shares of the company’s stock after selling 404,188 shares during the quarter. Holocene Advisors LP owned 0.08% of GE Vernova worth $108,353,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GEV. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the second quarter worth about $29,000. 1248 Management LLC acquired a new position in GE Vernova in the first quarter valued at approximately $31,000. Howard Hughes Medical Institute purchased a new stake in GE Vernova in the 2nd quarter worth approximately $31,000. Saudi Central Bank purchased a new stake in GE Vernova in the 1st quarter worth approximately $33,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of GE Vernova during the 1st quarter worth approximately $33,000.

GE Vernova Stock Down 4.5%

GEV stock opened at $672.32 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The firm has a 50-day simple moving average of $597.06 and a 200-day simple moving average of $582.05. The stock has a market capitalization of $182.41 billion, a P/E ratio of 109.50, a P/E/G ratio of 5.28 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) earnings per share. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is currently 32.57%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GEV shares. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research note on Wednesday. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. TD Cowen lowered their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday. Finally, Royal Bank Of Canada upgraded GE Vernova from a “sector perform” rating to an “outperform” rating and set a $761.00 price target on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $654.54.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.