Securian Asset Management Inc. Cuts Stake in GE Vernova Inc. $GEV

Securian Asset Management Inc. cut its holdings in GE Vernova Inc. (NYSE:GEV) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,220 shares of the company’s stock after selling 1,104 shares during the period. Securian Asset Management Inc.’s holdings in GE Vernova were worth $8,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GEV. WFA Asset Management Corp bought a new stake in shares of GE Vernova in the second quarter worth about $29,000. 1248 Management LLC bought a new stake in GE Vernova in the 1st quarter worth approximately $31,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC boosted its position in shares of 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 acquiring an additional 43 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new stake in GE Vernova in the second quarter worth $32,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. The Goldman Sachs Group boosted their target price on GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $761.00 price objective on shares of GE Vernova in a research note on Monday, December 22nd. Finally, Melius Research set a $740.00 target price on shares of GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Trading Up 0.8%

Shares of GEV opened at $686.52 on Wednesday. The firm has a fifty day moving average price of $617.04 and a 200-day moving average price of $605.03. The firm has a market capitalization of $186.27 billion, a P/E ratio of 111.81, a P/E/G ratio of 2.85 and a beta of 1.67. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00.

GE Vernova (NYSE:GEV) last posted 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). The company had revenue of $9.97 billion during 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%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.35) EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share 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 issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a 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 (DPR) is currently 32.57%.

GE Vernova Company 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.