Munro Partners Sells 27,345 Shares of GE Vernova Inc. $GEV

Munro Partners decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 15.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,543 shares of the company’s stock after selling 27,345 shares during the period. GE Vernova accounts for about 2.6% of Munro Partners’ portfolio, making the stock its 16th biggest holding. Munro Partners owned approximately 0.06% of GE Vernova worth $95,643,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sachetta LLC boosted its stake in GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after purchasing an additional 16 shares during the period. Good Life Advisors LLC increased its holdings in shares of GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after buying an additional 16 shares during the last quarter. Bell Investment Advisors Inc raised its position in GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares during the period. Northwest Wealth Management LLC raised its holdings in GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after buying an additional 16 shares during the period. Finally, AMG National Trust Bank raised its stake in shares of GE Vernova by 1.5% in the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares during the period.

GE Vernova Trading Down 0.2%

Shares of GEV stock opened at $660.53 on Wednesday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00. The business’s fifty day simple moving average is $601.77 and its 200-day simple moving average is $592.10. The company has a market cap of $179.22 billion, a PE ratio of 107.58, a PEG ratio of 5.05 and a beta of 1.71.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share 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 analysts’ expectations of $9.15 billion. During the same quarter last year, the firm earned ($0.35) earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is currently 16.29%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEV. Royal Bank Of Canada reissued an “outperform” rating and set a $761.00 price target on shares of GE Vernova in a research note on Monday. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. UBS Group raised their price objective on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Oppenheimer raised shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price on the stock in a research report on Wednesday, December 10th. Finally, Bank of America upped their price target on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.11.

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.