QRG Capital Management Inc. Sells 33,114 Shares of GE Vernova Inc. $GEV

QRG Capital Management Inc. trimmed its position in GE Vernova Inc. (NYSE:GEV) by 50.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 32,231 shares of the company’s stock after selling 33,114 shares during the period. QRG Capital Management Inc.’s holdings in GE Vernova were worth $19,819,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Glj Research boosted their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $761.00 price target on shares of GE Vernova in a research report on Monday, December 22nd. Susquehanna raised their price objective on GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a research report on Wednesday, December 10th. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price objective for the company in a research report on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $703.04.

GE Vernova Stock Up 6.2%

Shares of NYSE GEV opened at $681.78 on Friday. The firm has a market cap of $184.98 billion, a PE ratio of 111.04, a P/E/G ratio of 2.69 and a beta of 1.67. The company’s fifty day simple moving average is $629.47 and its 200 day simple moving average is $611.23. 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 earnings per share 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 the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm posted ($0.35) earnings per share. On average, equities analysts predict 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. Stockholders of record on Monday, January 5th will be issued a dividend of $0.50 per share. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is presently 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.