Cercano Management LLC Decreases Stock Position in GE Vernova Inc. $GEV

Cercano Management LLC cut its position in GE Vernova Inc. (NYSE:GEV) by 45.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,199 shares of the company’s stock after selling 27,721 shares during the period. GE Vernova accounts for 0.8% of Cercano Management LLC’s holdings, making the stock its 27th largest position. Cercano Management LLC’s holdings in GE Vernova were worth $20,414,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of GE Vernova in the second quarter valued at about $3,598,000. Lyell Wealth Management LP purchased a new position in shares of GE Vernova in the second quarter worth about $278,000. Schnieders Capital Management LLC. boosted its position in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares during the last quarter. Finally, Princeton Global Asset Management LLC boosted its position in GE Vernova by 14.4% during the second quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock worth $80,000 after acquiring an additional 19 shares during the last quarter.

GE Vernova Trading Up 2.0%

NYSE GEV opened at $818.31 on Wednesday. The stock has a fifty day simple moving average of $697.31 and a 200-day simple moving average of $637.51. The stock has a market cap of $220.56 billion, a PE ratio of 45.97, a P/E/G ratio of 3.19 and a beta of 1.67. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $846.00.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. GE Vernova’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 earnings per share. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GEV. TD Cowen raised their target price on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Citigroup increased their price target on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. UBS Group reissued a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Mizuho set a $714.00 target price on GE Vernova in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $788.24.

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.